USDCHF climbs to the 0.90750, USDJPY positive above EMA50
During the Asian trading session we looked at the sideways movement of the UDSCHF and the 0.90600-0.90700 range.
During the Asian trading session, USDJPY continued to rise above 155.70.
USDCHF chart analysis
During the Asian trading session we looked at the sideways movement of the UDSCHF and the 0.90600-0.90700 range. In the EU session, we see a bullish impulse that breaks through the upper level, and we climb to the 0.90750 level. We can expect a continuation to the 0.90800 level. At the 0.90850 zone, we encounter the EMA200 moving average and will need another impulse to move above. This will strengthen the bullish momentum, and we can continue further correction.
Potential higher targets are 0.90900 and 0.91000 levels. We need a negative consolidation and a drop below this morning’s support at the 0.90600 level for a bearish option. With that step, we go to a new daily low and confirm the instability on the chart. Potential lower targets are 0.90500 and 0.90400 levels.
USDJPY chart analysis
During the Asian trading session, USDJPY continued to rise above 155.70. We are supported by the EMA50 and EMA200 moving averages and expect to move above the 156.00 level this week. For that small step, we need a bullish impulse, and after that, the pair should continue with further recovery. Potential higher targets are 156.50 and 157.00 levels.
We first need a negative consolidation and a drop below the EMA50 moving average for a bearish option. After that, we could go down to the EMA200 at the 155.30 level. A break below this support would increase the pressure on USDJPY to initiate a deeper pullback. Potential lower targets are 155.00 and 154.50 levels.
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