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USDCHF under pressure at 0.88000, USDJPY pulled back

USDCHF under pressure at 0.88000, USDJPY pulled back 

On Thursday, USDCHF retreated to 0.87426, forming a weekly low. 
On Tuesday, USDJPY pulled back to support at the $149.68 level.

USDCHF chart analysis

On Thursday, USDCHF retreated to 0.87426, forming a weekly low. Fortunately, we were there for a short time, and the pair quickly recovered and returned above the 0.88000 level. With the new support of the EMA200 moving average, the pair stabilized in the 0.88000-0.88200 range.

During the Asian trading session and support at 0.88000, USDCHF tried to break the 0.88200 level. He did not succeed in this; for now, we remain trapped in this rank.

This could lead to new pressure on the EMA200 moving average. A drop below increases the pressure on the dollar, and we could see a new daily low forming. Potential lower targets are 0.87900 and 0.87800 levels.

USDJPY chart analysis

On Tuesday, USDJPY pulled back to support at the $149.68 level. In that zone, we encountered the EMA200, and thus, we got its support, which helped us to initiate a bullish consolidation. On Wednesday, we returned above the 150.00 level and successfully formed a bottom. Thursday brought us bullish consolidation and a jump to the 150.70 level.

During the previous Asian trading session, USDJPY was under pressure, and we saw a drop to 150.35. From that place we start a new uptrend and grow to a new weekly high at 150.77.

Potential higher targets are 150.80 and 150.90 levels. For a bearish option, we need a pullback below the 150.50 level. The pair would be under much higher pressure and could slide down. Potential lower targets are 150.40 and 150.30 levels.

The post USDCHF under pressure at 0.88000, USDJPY pulled back appeared first on FinanceBrokerage.

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