USDCHF and USDJPY: USDJPY rose to 138.75 level yesterday
- During the Asian trading session, USDCHF was consolidating around the 0.90500 level.
- Pair USDJPY rose to 138.74 levels yesterday and thus formed a new high of the year.
USDCHF chart analysis
During the Asian trading session, USDCHF was consolidating around the 0.90500 level. The dollar weakened sharply at the start of the EU session, causing USDCHF to fall to the 0.90200 support level. Here we could now get good support and support for the next bullish consolidation and continued growth.
Potential higher targets are 0.90600 and 0.90800 levels. In the US session, we have a speech by Federal Reserve Chair Jerome Powell. His statement about the future steps of the FED could affect the market’s increased volatility.
USDJPY chart analysis
Pair USDJPY rose to 138.74 levels yesterday and thus formed a new high of the year. During the Asian trading session, we see a pullback from that level to the 138.00 level. Currently, the decline is stopped at that level, and we need a continuation of the negative consolidation in order to continue further to the bearish side.
Potential lower targets are 137.50 and 137.00 levels. We need a positive consolidation and a return above the 138.50 level for a bullish option. Then we need to try to keep up there. With a new bullish impulse, we would initiate further growth and the formation of a new high. Potential higher targets are 139.00 and 139.50 levels.
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