USDCHF and USDJPY: USDJPY falls below the 150.00 level

On Friday, we saw a strong bearish impulse that pushed USDCHF down from 0.90800 to 0.89650. During the Asian trading session, USDJPY moved in the 149.20-149.80 range.

USDCHF chart analysis

On Friday, we saw a strong bearish impulse that pushed USDCHF down from 0.90800 to 0.89650. The dollar remains under pressure at the beginning of this week, which was seen during the Asian session. Bearish consolidation continued, and a new low was formed at the 0.89540 level. The decline is currently halted, and we see a slight recovery to the 0.89700 level.

If this bullish consolidation continues, we need a break above 0.89800 in order to get rid of the bearish pressure partially. Potential higher targets are 0.90000 and 0.92000 levels. For a bearish option, we need a negative consolidation and a drop below the previous low. After that, we could expect a further pullback and the formation of a new low. Potential lower targets are 0.89400 and 0.89200 levels.

 

USDJPY chart analysis

During the Asian trading session, USDJPY moved in the 149.20-149.80 range. On Friday, the pair failed to hold above the 150.00 level, and a breakout below followed and a drop to the previous low. Since then, we have been slightly recovering and expect to see a new test of the 150.00 level. Additional pressure in that zone creates the EMA50 moving average. We need a break above to get rid of the bearish pressure and start a further recovery.

Potential higher targets are 150.20 and 150.40 levels. For a bearish option, we need a negative consolidation and pullback to the 149.20 support level. A break below leads to the formation of a new low and confirms the bearish option. Potential lower targets are 149.00 and 148.80 levels.

 

The post USDCHF and USDJPY: USDJPY falls below the 150.00 level appeared first on FinanceBrokerage.