Connect with us

Hi, what are you looking for?

Real Investment StarReal Investment Star

Economy

USDCHF and USDJPY: USDJPY to multi-decade high at 160.00

USDCHF and USDJPY: USDJPY to multi-decade high at 160.00

During the Asian trading session, USDCHF was under bearish pressure. 
During the Asian trading session, USDJPY rose to 160.23 levels. 

USDCHF chart analysis

During the Asian trading session, USDCHF was under bearish pressure. We saw a pullback from 0.91466 to 0.91000 levels.

This caused us to fall below the EMA200 moving average. After that, in the EU session, the pair tried to start a positive consolidation, and it only managed to reach 0.91300, where we stopped. Additional resistance is created by the EMA50 moving average, and we are back below the EMA200 and 0.91200 again.

We expect a new test of this morning’s support at 0.91000, and the current picture tells us that we are getting closer to falling to a new daily low.

Potential lower targets are 0.90900 and 0.90800 levels. With a drop below 0.90900, the pair will form a new ten-day low and thus confirm that the dollar is under some pressure.

USDJPY chart analysis

During the Asian trading session, USDJPY rose to 160.23 levels. With this, the pair climbed to a multi-decade high. After that, we saw a strong bearish candle and a pullback to the 155.00 level. The reason for this is the intervention of the Bank of Japan in the movement of the exchange rate of the US dollar against the Japanese yen. The new weekly low was formed at the 154.52 level. For now, we have good support at that level and are coming back above the EMA200 moving average and the 155.50 level.

We are currently seeing a slight bullish consolidation and are toasting the recovery of USDJPY from this morning’s decline. Potential higher targets are 156.00 and 157.00 levels. We need a negative consolidation and a new pullback below 155.00 and EMA200 for a bearish option. With this, we move again to the bearish trend, and after that, we expect further pullback. Potential lower targets are 145.50 and 154.00 levels.

The post USDCHF and USDJPY: USDJPY to multi-decade high at 160.00 appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    ERP or Enterprise Resource Planning solutions help businesses of all sizes manage their daily business operations. First used in the 1990s, ERP systems have...

    Investing

    Democratic Gov. Janet Mills on Wednesday vetoed a bill aimed at prohibiting foreign influence in Maine elections, but voters will get the final say...

    Latest News

    There were several reasons offered in support of the congestion pricing plan that was supposed to go into effect in New York at the...

    Latest News

    House Speaker Mike Johnson (R-La.) on Wednesday appointed Reps. Scott Perry (R-Pa.) and Ronny Jackson (R-Tex.), two Trump loyalists who denied the results of...

    Disclaimer: realinvestmentstar.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 realinvestmentstar.com