USDCHF and USDJPY: USDJPY remains high at the 146.50 level

USDCHF chart analysis

During the Asian trading session, USDCHF continued to retreat to the 0.88250 level. We get support there and recover to the 0.88455 level. We are now consolidating in that range and trying to find new support to trigger further recovery. We need a break above the 0.88500 resistance level and hold up there. Potential higher targets are 0.88600 and 0.88700 levels.

We need a negative consolidation and a fall of USDCHF below the 0.88200 level for a bearish option. After that, we look at the 0.88000 level as the next support. Additional support for the dollar at that level is in the EMA50 moving average. Potential lower targets are 0.87800 and 0.87600 levels.

USDJPY chart analysis

During the Asian trading session, the pair USDJPY continued to move around the 146.50 level. It is very possible that we will soon see a break above and a continuation towards the $147.00 level. This would form a new nine-month high. Potential higher targets are 147.25 and 147.50 levels.

We need a negative consolidation and pullback below the 146.25 level for a bearish option. After that, we would be very close to testing the 146.00 support level. A break below would mean the pair could initiate a stronger pullback. Potential lower targets are 145.50 and 145.00 levels. Additional support is in the EMA50 moving average at the 145.50 level.

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