USDCHF is in consolidation; and USDJPY is above 146.50

<div><img width="1200" height="600" src="https://www.financebrokerage.com/wp-content/uploads/2023/04/USDCHF.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="USDCHF" decoding="async" loading="lazy" /></div><h1><b>USDCHF is in consolidation; and USDJPY is above 146.50</b></h1>
<ul>
<li aria-level="1">The previous week was positive for USDCHF, with a high forming at the 0.88200 level.</li>
<li aria-level="1">Last week we saw a tremendous pullback of USDJPY from 147.50 to 141.62 level.</li>
</ul>
<h2><b>USDCHF chart analysis</b></h2>
<p>The previous week was positive for USDCHF, with a high forming at the 0.88200 level. During the Asian session, we saw a slight pullback to the 0.87850 level, where we gained support and initiated a new <a href="https://www.financebrokerage.com/the-dollar-index-with-bullish-consolidation-rises-to-101-00/">bullish</a> impulse. We now need to move above 0.88100 to release the bearish pressure. After that, we can test last week’s high again.</p>
<p>Potential higher targets are 0.88300 and 0.88400 levels. We need a negative consolidation and a drop below the 0.87800 level for a bearish option. This would form a new daily low and confirm the bearish presence on the chart. Potential lower targets are 0.87700 and 0.87600 levels. Additional support is the EMA50 moving average around the 0.87700 level.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-246351 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/12/exK7Nger-1024×620.jpg" alt="USDCHF Chart Analysis" width="1024" height="620" /></p>
<h2><b>USDJPY chart analysis</b></h2>
<p>Last week we saw a tremendous pullback of USDJPY from 147.50 to 141.62 level. The fall was stopped there, and since then we have been in a bullish consolidation that has continued today. This week’s high is currently at the 146.50 level, and expectations are that we will see a continuation on the bullish side. Additional pressure in this zone creates the EMA50 moving average, which could negatively affect further movement.</p>
<p>The breakout above tells us that USDJPY has the strength to start a further bullish recovery. Potential higher targets are 147.00 and 147.50 levels. We need a negative consolidation and price pullback below the 145.50 level for a bearish option. Doing so would take the first step towards the bearish side. Potential lower targets are 145.00 and 144.50 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-246352 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/12/urBP8wyU-1024×620.jpg" alt="USDJPY Chart Analysis" width="1024" height="620" /></p>
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