USDCHF and USDJPY: USDCHF and support at 0.90200 level
- During the Asian trading session, we see a pullback of USDCHF from the 0.90600 level to the 0.90200 level.
- Pair USDJPY was again above the 140.00 level yesterday.
USDCHF chart analysis
During the Asian trading session, we see a pullback of USDCHF from the 0.90600 level to the 0.90200 level. For now, we are maintaining at that level, and we are trying to hold above and stop the previous fall. Additional support is provided by the EMA50 moving average from the lower side.
The current breakout could break below this support and take us to the 0.90000 level. A potential lower target is the 0.89800 level on the edge of a large bullish channel.
USDJPY chart analysis
Pair USDJPY was again above the 140.00 level yesterday. A new May high was formed at the 140.22 level. From that place, the pair begins to retreat and falls to the 139.50 level. There we get further support and start a new bullish consolidation. Potential higher targets are 140.50 and 141.00 levels.
We need a negative consolidation and pullback below this morning’s support level for a bearish option. After that, we could see a continuation of the decline and the formation of a new low. Potential lower targets are 139.00 and 138.50 levels.
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