USDCHF and USDJPY: New Weekly Targets and Prices
- During this morning’s Asian trading session, USDCHF is finding support at the 0.85750 level
- Last week, USDJPY rose to 149.13 to a new 50-day high
USDCHF chart analysis
During this morning’s Asian trading session USDCHF is finding support at the 0.85750 level. The pair has returned above the daily open level and is now on the positive side. We expect to move above the 0.86000 level soon and form a new daily high. Bullish momentum is also growing, and everything points to further growth. Potential higher targets are 0.86200 and 0.86400 levels.
For a bearish option, we need a negative consolidation and pullback of USDCHF below this morning’s support zone. With a break below, we are going to a new daily low. Such a picture indicates that the pair has no strength to recover and that we are turning to the bearish side. Potential lower targets are 0.85600 and 0.85400 levels.
USDJPY chart analysis
Last week, USDJPY rose to 149.13 to a new 50-day high. During this morning’s Asian session, the pair made a slight step down to support at the 148.40 level. It is now putting pressure on this zone, and we are monitoring the situation to see if it will hold. If it holds and we return above the daily open level, USDJPY could start a new bullish consolidation. After that, we expect a visit to last week’s high and a continuation above at a new high.
Potential higher targets are 149.00 and 149.50 levels. For a bearish option, we need a negative consolidation and a drop below this morning’s support zone. By descending to a new daily low, we confirm the transition to the bearish side. Strengthening bearish momentum would have the effect of pulling USDJPY to a new low. Potential lower targets are 148.00 and 147.50 levels. Possible support is the EMA 50 moving average in the 147.50 zone.
The post USDCHF and USDJPY: New Weekly Targets and Prices appeared first on FinanceBrokerage.