USDCHF and USDJPY: USDCHF within reach of 0.87000 level
This week, we have seen a bullish consolidation of USDCHF from 0.85250 to 0.86940.
USDJPY was strongly bullish this week, from 144.90 to 148.80 levels.
USDCHF chart analysis
This week, we have seen a bullish consolidation of USDCHF from 0.85250 to 0.86940. During the Asian session, the pair managed to hold above the 0.86800 level, and now we see a new impulse that could make a breakthrough above the 0.87000 level. Potential higher targets are 0.87200 and 0.87400 levels.
We need a pullback below the 0.86800 support level for a bearish option. After that, we entered a zone that could strengthen the bearish momentum and send us to yesterday’s support zone around 0.86400. A break below would mean that the dollar is weakening, and the USDCHF could go even lower. Potential lower targets are 0.86200 and 0.86000 levels. EMA200 moving average is in the zone around 0.86000 levels.
USDJPY chart analysis
USDJPY was strongly bullish this week, from 144.90 to 148.80 levels. The mentioned high was formed this morning during the Asian trading session. After that, we see how the pair stops there and begins to pull back to the 148.00 level. Here, we could get new support and start a bullish consolidation with the aim of breaking the previous high. Potential higher targets are 149.00 and 149.50 levels.
For a bearish option, we need a pullback to support at 147.50. A drop below this level could trigger a deeper pullback and initiate a bearish trend. Potential lower targets are 147.00 and 146.50 levels. EMA200 is a potential support for us in the zone around 146.50 levels.
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