USDCHF and USDJPY: USDJPY is testing support at 150.00

The USDCHF pair jumped to 0.91126 levels on Wednesday, forming a new three-week high. The USDJPY pair is in retreat after Wednesday’s jump to 151.72 levels.

USDCHF chart analysis

The USDCHF pair jumped to 0.91126 levels on Wednesday, forming a new three-week high. There was a pause at that level, and the pair started to pull back, descending to the 0.90200 support level. In that zone, we get new support in the form of the EMA50 moving average, and the pair recovers to the 0.90500 level.

During the previous Asian trading session, we stayed in that zone only to see a bearish impulse and pullback to the 0.90400 level in the previous hour.

We are again approaching the EMA50 moving average, expecting it to stop this pullback. Potential lower targets are 0.90200 and 0.90000 levels.

For a bullish option, we need a positive consolidation and a new jump above the 0.90600 level. Then, we would have to hold ourselves up there so that we could start further recovery. Potential higher targets are 0.90800 and 0.91000 levels.

USDJPY chart analysis

The USDJPY pair is in retreat after Wednesday’s jump to 151.72 levels. The muted pressure to break above caused the pair to pull back, dropping to the 149.85 support level yesterday.

We found support at that level and recovered during the Asian session to the 150.50 level. We failed to continue further recovery and now see a new pullback to the 150.20 level. Increased bearish pressure could influence us to continue the decline.

Potential lower targets are 150.00 and 149.80 levels. For a bullish option, we need a positive consolidation and recovery above the 150.60 level.

We would also get support in the EMA50 moving average, which would have a positive effect on the USDJPY and move it higher. Potential higher targets are 150.80 and 151.00 levels.

 

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