USDCHF and USDJPY: USDJPY could finally climb to 155.00
On Friday, we saw a recovery in USDCHF after falling to the 0.90112 level.
USDJPY’s decline on Friday was short-lived, followed by a quick recovery above 154.40.
USDCHF chart analysis
On Friday, we saw a recovery in USDCHF after falling to the 0.90112 level. Towards the end of the day, we stabilized above 0.91000 and the EMA200 moving average. During this morning’s Asian trading session, the pair moved in the 0.91000-0.91200 range. We have good support from the EMA200 and hope for a continuation to the bullish side. We need a break above 0.91200 in order to rise to a new weekly high and thereby confirm the bearish primacy.
Potential higher targets are 0.91300 and 0.91400 levels. We need a break below the EMA200 and the 0.91000 support level for a bearish option. With that step, we switch to the bearish side and form a new daily low. USDCHF would then be pressured to start a further pullback and visit last week’s lows. Potential lower targets are 0.90800 and 0.9700 levels.
USDJPY chart analysis
USDJPY’s decline on Friday was short-lived, followed by a quick recovery above 154.40. By the end of the day and the market’s closing, the pair erased all the losses, rising to 154.65 levels. During the Asian trading session, we moved above that level and rose to a new high at the 154.76 level. Support has moved above 154.60, and we expect a continuation to the bullish side.
Potential higher targets are 154.90 and 155.00 levels. For a bearish option, we need a pullback to the 154.50 level. With that, we fall to a new daily low and retreat below the EMA50 moving average. This further increases the pressure on USDJPY which would have a negative impact in the coming days. Potential lower targets are 154.40 and 154.30 levels.
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