- During the Asian trading session, USDCHF succeeded in maintaining a level above 0.85300.
- On Friday, USDJPY fell to 144.50 and the EMA50.
Chart analysis of the US dollar against the Swiss franc
During the Asian trading session, USDCHF succeeded in maintaining a level above 0.85300. The pair remains above the support level at the EMA50. To continue the uptrend, we need to move above 0.85600 as that would be a tangible step for further USDCHF recovery. Possible higher targets are 0.85800 and 0.8600 levels.
We need a negative consolidation and a pullback to the 0.85000 support level for a bearish option. So we will test the support from Friday. A break below would enhance the bearish momentum and push the pair to lower levels. We will also fall below the EMA50, which could make it more difficult for the dollar to start recovering. Possible lower targets are 0.84800 and 0.84600 levels.
USDJPY chart analysis.
On Friday, USDJPY fell to 144.50 and the EMA50. It has managed to get support at this level and is starting to recover. During the Asian trading session, the pair crossed the 145.00 level and continues to recover. This is how it formed today's high at 145.80. We are still high above the 145.50 level, which could mean that we have the strength to continue towards the 146.00 level. Possible higher targets are 146.25 and 146.50 levels.
We need negative consolidation and a pullback below 145.50 for a bearish option. Then, if the pressure continues, we look at the 145.00 support level this morning. The dollar's inability to hold above it leads to a continuation of the decline and the formation of a new week's bottom. Possible lower targets are 144.50 and 144.00 levels. The EMA50 is in the area around 144.50, and we have been under its support for the past 10 days.
