Connect with us

Hi, what are you looking for?

Trading Secrets

USDCHF and USDJPY: USDJPY pulling back below 148.00

USDCHF and USDJPY: USDJPY pulling back below 148.00

During the Asian session, the USDCHF continued its pullback from Friday. During the Asian trading session, we saw a pullback from the 148.20 level.

USDCHF chart analysis

During the Asian session, the USDCHF continued its pullback from Friday. A daily low was formed at the 0.86072 level. After that, we see a slight recovery to 0.86200 but remain under bearish pressure. If we manage to stabilize above 0.86200, we will have the opportunity to start a recovery and get rid of the bearish pressure.

In the sub-trot, we fall below and form a new low, thereby confirming the bearish momentum. Potential lower targets are 0.86000 and 0.85800 levels. For a bullish option, we need a positive consolidation and a jump to 0.86400, the price from last night’s market opening. There, we would have the opportunity to test the EMA200 and, with the breakout above, get its support. Potential higher targets are 0.86600 and 0.86800 levels.

USDJPY chart analysis

During the Asian trading session, we saw a pullback from the 148.20 level. The pair is under bearish pressure, and we retreat to the current 147.82. In the zone around 147.50 levels, we will be forced to test the EMA200 moving average. For now, we remain above 147.80, hoping to move back to the 148.00 level. With that move, they could start a bullish consolidation that would push the USDJPY to a new daily high in the US session.

Potential higher targets are 148.250 and 148.50 levels. For a bearish option, we need to go down and test the EMA200 and 147.50 levels. A drop below these two support levels would significantly increase the pressure on USDJPY to start a further pullback. Potential lower targets are 147.25 and 147.00 levels.

The post USDCHF and USDJPY: USDJPY pulling back below 148.00 appeared first on FinanceBrokerage.

Enter your email address below and we’ll send you our best practices.

    You can unsubscribe at any time. Redstatefoundation respects your privacy and strives to be transparent about our data collection practices. Please read our Privacy Policy and Terms of Use.

    You May Also Like

    Trading Life

    Laura Wong Hon Chan is an interest rate options trader, who is currently a director at Bank of America Merrill Lynch in New York....

    Trading Secrets

    In this episode of StockCharts TV‘s The MEM Edge, Mary Ellen reviews what’s driving the markets higher and what to be on the lookout...

    Trading Secrets

    SPX Monitoring Purposes: Long SPX on 10/10/22 at 3612.39; sold 12/13/22 at 3669.91 = gain 1.59%. Monitoring Purposes GOLD: Long GDX on 10/9/20 at...

    Trading Secrets

    I don’t like it when parts of a puzzle don’t match. You just don’t get a clear picture. As participants in the markets, we...