USDCHF slipped to 0.90100 this morning, USDJPY in a pullback
During this morning’s Asian trading session, there was a strong bearish impulse to bring USDCHF down to the 0.90112 level.
On the USDJPY chart, we also saw a pullback during the Asian session to the 153.60 level.
USDCHF chart analysis
During this morning’s Asian trading session, there was a strong bearish impulse to bring USDCHF down to the 0.90112 level. Before that, the pair moved around the 0.91300 level. The reason for this withdrawal is the Israeli attack on Iran. Since the attack was narrow in scope, the market quickly began to recover. USDCHF already moved up to $0.90500 in the next hour. Below, we saw a recovery to the 0.90950 level.
In this zone, we encounter the EMA200 moving average, slowing the recovery and keeping us below its line for now. We need a small impulse to move above the 0.91000 and EMA200 levels. Potential higher targets are 0.91100 and 0.91200 levels. If we fail to move above, another bearish consolidation and USDCHF pullback will occur. Potential lower targets are 0.90700 and 0.90600 levels.
USDJPY chart analysis
On the USDJPY chart, we also saw a pullback during the Asian session to the 153.60 level. There, we tested the EMA200 moving average, which was stopped by that drop and sent us on a recovery. In the next hour, we returned above 154.00, after which the bullish consolidation continued. We are now at the 154.50 level and getting closer to testing this morning’s resistance zone at the 154.65 level.
This time we could see a break above to a new daily high and thus return to the positive side. Potential higher targets are 154.80 and 155.00 levels. We need a negative consolidation and pullback to the 154.20 level for a bearish option.
This brings us below the EMA50 moving average. This further strengthens the bearish momentum, and we can expect a further retreat to lower levels. Potential lower targets are 154.00 and 153.80 levels.
The post USDCHF slipped to 0.90100 this morning, USDJPY in a pullback appeared first on FinanceBrokerage.
