Connect with us

Hi, what are you looking for?

Trading Secrets

USDCHF and USDJPY: USDJPY falls below 147.00 this morning

USDCHF and USDJPY: USDJPY falls below 147.00 this morning

On Wednesday, the USDCHF fell below the EMA200 moving average, leading to a sharp pullback below the 0.88100 level. On Tuesday, USDJPY fell below the EMA200 moving average and initiated a bearish consolidation.

USDCHF chart analysis

On Wednesday, the USDCHF fell below the EMA200 moving average, leading to a sharp pullback below the 0.88100 level. Thursday was all bearish, and the pair retreated to the 0.87700 level. During the Asian trading session, we saw a continuation of the pullback and the formation of a new weekly low at the 0.87580 level. We are still close to that level, remaining under bearish pressure, and currently hovering around the 0.87650 level.

Potential lower targets are the 0.87500 and 0.87500 levels. For a bullish option, you need USDCHF to return above the 0.87800 level. With that, we grow to a new daily high and skip the Asian high price. After that, we can expect to see a new bullish consolidation and USDCHF recovery. Potential higher targets are the 0.87900 and 0.88000 levels.

USDJPY chart analysis

On Tuesday, USDJPY fell below the EMA200 moving average and initiated a bearish consolidation. The pair slipped below the 150.00 level, reinforcing the bearish momentum that continues today. This led to a drop to a new weekly low at 146.87. During the previous Asian trading session, we tried to stay above the 147.75 level but failed to do so, causing us to fall to today’s low.

Potential lower targets are the 146.75 and 146.50 levels. For a bullish option, we need a positive consolidation and a return to the $148.00 level. This brings us back to the daily open price. By moving above, we move away from the previous low. With the new support at 148.00, we have the opportunity to start a bullish consolidation and erase part of this week’s losses. Potential higher targets are the 148.50 and 149.00 levels.

The post USDCHF and USDJPY: USDJPY falls below 147.00 this morning 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...