In the 4-hour timeframe, USDJPY has managed to hold above the 106.000 level and is this morning in a range between the 50-period MA at 107.112 and the supporting blue trend line at 106.353. Below the supporting trend line, the 106.30 level comes into play, with a move below targeting the 105.623 trend line and the 105.504 level. The 105.000 level remains an attractive target if shorts have the strength to reach it. Resistance above can be found at 107.307, followed by the 100-period MA at 107.693. The high from the 20th/21st of February comes in at 107.916, with the 25th of January low at 1.08277. A previously supportive trend line has turned to resistance at 108.490, with the 200-period MA at 108.775, followed by a resistance trend line just above the 109.000 level. Ultimately 110.000 remains an important area that can attract fresh orders. USDCHF This pair is using the lows from early September at 0.94200 as resistance, making this level an important point of control. Staying underneath this level can send the price to fresh lows, while a break above can target the 0.96000 area. Support at 0.93211 has been used sporadically in recent trading, with a move lower testing 0.92895. The most recent lows are found at 0.91878, with trend line support at 0.91424. Targets below are 0.91000 and 0.90000. Resistance is found at the 50 DMA at 0.94989 and the 0.95501 level above. Falling trend line support is coming in at 0.95996, with the 100 DMA and the 0.96193 level all firming up 0.96000. There is a longer-term trend line at 0.96700, with the 200 DMA at 0.96990. A break above 0.97000 targets 0.98350 and the falling previous channel top at 0.98553, followed by longer-term trend line resistance at 0.99769, and ultimately, parity. The late October/early November highs are located at 1.00373.
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