USDCHF and USDJPY: USDJPY is approaching the 150.00 level
During the Asian trading session, USDCHF hovered around the 0.91600 level.
During the Asian trading session, USDJPY continued to grow up to 149.82 levels.
USDCHF chart analysis
During the Asian trading session, USDCHF hovered around the 0.91600 level. At the beginning of the EU session, CHF strengthened sharply, which led to the retreat of USDCHF to the 0.91150 level. In this zone, we encounter the EMA50 moving average, which could slow down this decline and provide the dollar with support. A break below would increase bearish pressure to test Friday’s previous low at the 0.9100 level. Potential lower targets are 0.90800 and 0.09600 levels.
For a bullish option, we need a positive consolidation and return of USDCHF above the 0.91600 level. Then, we need to stay up there before we go into further recovery. Potential higher targets are 0.91800 and 0.92000 levels.
USDJPY chart analysis
During the Asian trading session, USDJPY continued to grow up to 149.82 levels. At the beginning of the EU session, there was a slight pullback to the 149.55 level, and for now, we have support at that level. The pair is currently at the 149.70 level and is slowly approaching the previous high again. A break above would definitely push us to the 150.00 level. Potential higher targets are 150.20 and 150.40 levels.
We need a negative consolidation and pullback to 149.40 levels for a bearish option. A break below could indicate that the dollar lacks the strength to push higher, and we will see a continuation of the USDJPY pullback. Potential lower targets are 149.20 and 149.00 levels. The EMA50 moving average is around 148.90 levels, and we could expect stronger support for the dollar there.
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