- On Wednesday, the USD/CHF pair fell below the EMA200 moving average, triggering a sharp pullback below the 0.88100 level.
- On Tuesday, USDJPY fell below the EMA200 and began a bearish consolidation.
Chart analysis of the US dollar against the Swiss franc
On Wednesday, the USD/CHF pair fell below the EMA200 moving average, triggering a sharp pullback below the 0.88100 level. Thursday was completely bearish, with the pair falling to the 0.87700 level. During the Asian trading session, we saw a continuation of the decline and the formation of a new weekly low at the 0.87580 level. We are still close to this level, still under bearish pressure, and are currently hovering around the 0.87650 level.
Possible lower targets are 0.87500 and 0.87500 levels. To get a bullish option, you need USDCHF to return above the 0.87800 level. With this, we reach a new daily high and break through the Asian high. After that, we can expect to see a new upward consolidation and USDCHF recovery. Possible higher targets are 0.87900 and 0.88000 levels.
USDJPY chart analysis.
On Tuesday, USDJPY fell below the EMA200 and began a bearish consolidation. The pair fell below the 150.00 level, consolidating the bearish momentum that continues today. This led to a decline to a new weekly low of 146.87. During the previous Asian trading session, we tried to stay above the 147.75 level but failed, which led to us falling to today's low.
Possible lower targets are 146.75 and 146.50 levels. For the bullish option, we need a positive consolidation and a return to the $148.00 level. This brings us back to the daily opening price. By moving above, we move away from the previous low. With the new support at 148.00, we have the opportunity to start an upward consolidation and erase part of this week's losses. Possible higher targets are 148.50 and 149.00 levels.
