USDCHF and USDJPY: USDJPY is on the way to 135.00 again

During the Asian trading session, USDCHF slowly slipped from 0.89200. 
During the Asian session, USDJPY continued to rise from the 134.00 support level. 

USDCHF chart analysis

During the Asian trading session, USDCHF slowly slipped from 0.89200. The current decline stopped at the 0.89000 level, and now here we are, trying to hold and gain support. If we succeed in this, we could see a new bullish recovery. First of all, we need a nap break above the 0.89200 level.

Then we should hold on up there and with a new impulse to start a stronger recovery. Potential higher targets are 0.89400 and 0.89600 levels. For a bearish option, it needs to fall below the current support. If that were to happen, we would retest last week’s support zone at the 0.88600 level.

USDJPY chart analysis

During the Asian session, USDJPY continued to rise from the 134.00 support level. We are now at the 134.70 level and on track to retest the 134.80 level before climbing to the 135.00 level. A break above would mean the formation of a new higher high and the potential for further USDJPY growth.

We need a negative consolidation and a new pullback to the 134.00 support level for a bearish option. With a break below, we could expect to see a further decline, and potential lower targets are the 133.75 and 133.50 levels.

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