USDCHF and USDJPY: USDCHF has a pullback below 0.86000
USDCHF is under bearish pressure during this week. USDJPY has been in retreat since Monday at 148,200 levels.USDCHF chart analysis
USDCHF is under bearish pressure during this week. We could not manage to move above the EMA200, which put additional pressure on the dollar. On Wednesday, we had the first stronger bearish impulse that took us down to the 0.85510 level. Fortunately, the pair quickly consolidated and climbed to the 0.86400 level. As in the previous attempts, we encounter the EMA200 moving average this time, which brings us back to the bearish side.
So yesterday, we were looking at a new USDCHF pullback to the 0.87500 level. During the previous Asian session, the pair continued to pull back. USDCHF made a stronger bearish impulse in the EU session, and we are testing this week’s support at the 0.85500 level, which is within reach again. New pressure on that level could lead to a breakout below and the formation of a new low. Potential lower targets are the 0.85400 and 0.85300 levels.
USDJPY chart analysis
USDJPY has been in retreat since Monday at 148,200 levels. Until Wednesday, we saw a mild pullback and held above the 147.00 level. The dollar weakened sharply on Wednesday, and the pair slipped to 146.00. After that, we looked at a recovery attempt, which was stopped at 147.20 with the EMA200 moving average resistance. USDJPY starts a new retreat with the formation of this week’s new low at 145.89.
We stop there now and start a recovery during the Asian trading session. The growth lasted until the 146.80 level when the dollar encountered a new resistance. This could produce another bearish consolidation with the outcome of forming a new lower low. Potential lower targets are 145.75 and 145.50 levels.
The post USDCHF and USDJPY: USDCHF has a pullback below 0.86000 appeared first on FinanceBrokerage.
