USDCHF and USDJPY: USDJPY is slowly breaking above 145.00

• Today’s USDCHF movement is in the 0.87500-0.87800 range.
• During the Asian trading session, USDJPY hovered around the 145.00 level. 

USDCHF chart analysis

Today’s USDCHF movement is in the 0.87500-0.87800 range. We have been holding above the EMA50 moving average for a week and expect to see a continuation of USDCHF’s recovery to higher levels. We need a break above the 0.87800 previous resistance level. Then, it is also necessary to keep up there so that we can start further recovery with the next impulse. Potential higher targets are 0.87900 and 0.88000 levels.

We need a negative consolidation and a drop below the 0.87500 level for a bearish option. We also fall below the EMA50 moving average and thus reinforce the bearish scenario. Potential lower targets are 0.87400 and 0.87300 levels.

USDJPY chart analysis

During the Asian trading session, USDJPY hovered around the 145.00 level. In the EU session, there was a slight weakening of the dollar, and the pair retreated to 144.75 levels. There, he gets support and starts a new positive consolidation. We are now back above the 145.00 level and expect to see the dollar continue to rise. Potential higher targets are 145.25 and 145.50 levels.

We need a negative consolidation and pullback to 144.50 levels for a bearish option. Thus, prices would make the first bearish step towards a further decline and visit lower support levels. Potential lower targets are 144.00 and 143.50 levels. Additional support for the bullish trend is the EMA50 moving average at the 143.50 level.

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