USDCHF and USDJPY: USDJPY is climbing to 146.00 levels

• USDCHF continues this week’s bullish consolidation.
• During the Asian trading session, USDJPY continued bullish consolidation, moving up to 146.00 levels.

USDCHF chart analysis

USDCHF continues this week’s bullish consolidation. Yesterday, we had a pullback to the 0.87600 level, where we quickly got support and started a new bullish recovery. During the Asian trading session, the pair continued to rise to 0.88650 levels. Potential higher targets are 0.88800 and 0.89000 levels.

We need a negative consolidation and pullback below the 0.88600 support level for a bearish option. A fall below it could be the start of a new larger decline in USDCHF. Potential lower targets are 0.88400 and 0.88200 levels. Additional support for USDCHF is in the EMA50 moving average in the zone around the 0.88000 level.

USDJPY chart analysis

During the Asian trading session, USDJPY continued bullish consolidation, moving up to 146.00 levels. This week’s high was at the 146.56 level, and if this kind of consolidation continues, we could soon test the previous high. Potential higher targets are 146.75 and 147.00 levels.

We need a negative consolidation and pullback to the 145.50 support level for a bearish option. Additional support in that zone is in the EMA50 moving average. A break below would mean the dollar starts to weaken, and therefore, the USDJPY would begin a retreat to the next lower support. Potential lower targets are 145.00 and 144.50 levels.

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