USDCHF and USDJPY: USDJPY is rising above the 142.00 level
- During the Asian trading session, USDCHF rose to the 0.87200 level.
- During the Asian trading session, USDJPY continued to rise, and we are now back above the $142.00 level.
USDCHF chart analysis
During the Asian trading session, USDCHF rose to the 0.87200 level. Then, the pair begins to pull back and stops at the 0.87000 support level. From this level, we could expect a new bullish impulse and the initiation of further recovery of USDCHF. Potential higher targets are 0.87400 and 0.87600 levels.
We need a negative consolidation and a fall of USDCHF below the 0.87000 level for a bearish option. After that, we would test the previous low at 0.86800. A break below would take us to the 0.86600 level, where we encounter the EMA50 moving average. If we don’t get his support, the pair could continue to retreat. Potential lower targets are 0.86400 and 0.86200 levels.
USDJPY chart analysis
During the Asian trading session, USDJPY continued to rise, and we are now back above the $142.00 level. The Japanese yen continues to weaken, which the dollar skilfully takes advantage of and continues to push the USDJPY to higher levels. We also see a break above the previous high at 141.95 from July 21, which is also a sign of a potential bullish continuation. Possible higher targets are 142.50 and 143.00 levels.
We need a negative consolidation and price pullback below the 141.50 level for a bearish option. Below this level, bearish pressure would increase, and the pair could continue to slide to lower support levels. Potential lower targets are 141.00 and 140.50 levels. Additional support for USDJPY at the 140.50 level is in the EMA50 moving average.
