Weekly technical reports
USDJPY
We might see USDJPY take a dip towards 117.30 early this week and then head back towards 118.80 level. Break of 118.30 level will set 116.00 level as new target for USDJPY but currently short term traders might just look to profit on short trades. RSI is just under 48 in daily charts and indicates the range-trade nature of the current market.gif)
USDCHF
USDCHF is going into a tight situation where it should clearly settle into a long -term trend. On the upper side we can find 1.2543 level being tested during this week and similarly on the lower side 1.2400 will come into play and break of this will set 1.2234 as new target. We might see USDCHF stay in between 1.2543 and 1.2400 levels during most of this week..gif)