USDCHF and USDJPY: The USDCHF pair fluctuated between 0.89400 and 0.89600 throughout the Asian trading session that began this morning.
On Monday, the USDJPY pair hit a fresh low of 160.26, continuing its downward trend.
USDCHF chart analysis
The range of resistance and resistance for USDCHF during the Asian trading session this morning was 0.89400 to 0.89600. The upper level of this range is now under pressure during the EU session, and a break above might lead to a new high. This will confirm a small upward momentum by forming a new daily high. The 0.89600 and 0.89800 levels are possible aims for the upper levels. The exponential moving averages of 50 and 200 degrees of freedom are encountered as we ascend into the zone of 0.84750-0.84800.
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To maintain a bullish bias, we need to break above those resistances. A negative alternative would be in play if the USD/CHF pair were to retrace below the 0.89400 level, which served as support earlier today. This further solidifies the bearish option’s persistence as the pair hits a new weekly low. The 0.89200 and 0.89000 levels are potential goals at a lower level.
USDJPY chart analysis
On Monday, USD/JPY kept falling, reaching a new low of 160.26. The pair began a bullish consolidation after finding new support, and it recovered to 161.10. Here we meet resistance and create a lower low than the one on Friday. The formation of a new lower bottom is the objective of the newly launched bearish consolidation, which will be initiated if the resistance remains in place.
The 160.20 and 160.00 levels could be potential targets for a drop. If the USD/JPY were to go positive, it would need to surpass today’s high. If we can break out of the 161.40 range, we will have fallen lower than the previous week. This suggests that the positive trend may be able to continue. Potentially higher objectives can be found at 161.60 and 161.80.
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