USDCHF and USDJPY: USDJPY falls below the 143.00 level

USDCHF remained stable this week above the 0.89400 level.
The USDJPY pair was in retreat this week from the 144.80 level.

USDCHF chart analysis

USDCHF remained stable this week above the 0.89400 level. We tried several times to reach the 0.90000 level, but we always returned to the starting position up to the 0.89500 level. Today we have a new opportunity for a new bullish consolidation and an attempt to move towards the 0.90000 level again.

To begin with, we need a breakout of USDCHF above the 0.89700 level and the EMA50 moving average. After that, we can expect to see further growth and a test of the upper resistance zone. Only if we break above 0.90000 the bullish option is then certain. Potential higher targets are 0.90100 and 0.90200 levels.

We need a negative consolidation and a pressure switch to the 0.89400 level for a bearish option. A break below would continue the dollar’s pullback and test previous support levels. Potential lower targets are 0.89300 and 0.89200 levels.

USDJPY chart analysis

The USDJPY pair was in retreat this week from the 144.80 level. During this morning’s Asian session, the pair breaks through the previous low at 143.700 and skids to a new one at 142.86. We now have support at that level and could expect to see a recovery above the 143.00 level. If we manage to hold on there, USDJPY could more specifically recover and climb to higher levels.

Potential higher targets are 143.60 and 143.80 levels. For a bearish option, we need a negative consolidation and a pullback below the 1430.00 level. After that, we would go down to once again test the support at the 142.85 level. A break below would mean a further drop to a new low. Potential lower targets are 142.80 and 142.60 levels.

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