USDCHF and USDJPY: USDJPY falls below 134.00
- During the Asian session, USDCHF managed to consolidate at the 0.89200 level.
- Pair USDJPY yesterday moved away from 135.00 by falling to the 134.00 level.
USDCHF chart analysis
During the Asian session, USDCHF managed to consolidate at the 0.89200 level. The pair starts a bullish consolidation and climbs up to the 0.89550 level. We stop there, and the dollar does not have the strength to continue pushing this pair up. We again see a minor pullback to 0.89300, and we are stuck at that level for now. For a bullish option, we need a break above the 0.89500 level. Then we need to hold up there and continue the positive consolidation and growth of the USDCHF. Potential higher targets are 0.89600 and 0.89700 levels. On the downside, a drop in USDCHF below this morning’s support could take us down to the 0.89000 level.
USDJPY chart analysis
Pair USDJPY yesterday moved away from 135.00 by falling to the 134.00 level. After which, we see a minor recovery to 134.40 levels. During the Asian session, USDJPY continued its retreat and broke below the 134.00 level. Today’s low USDJPY is 133.65, and it is possible that the fall of the dollar is not over yet. Potential lower targets are 133.50 and 133.40 levels. Additional support at the current level could be in the EMA50 4h moving average. And if we managed to stay above USDJPY, it would have a new opportunity for recovery.
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