Special Focus Mar 14 -2015 - Written by Mohammed Isah

USDCHF: Extends Bullishness

USDCHF: With the pair extending its bullishness the past week, further strength is envisaged in the new week. Although USDCHF may see a corrective pullback following its recent strength. Resistance resides at the 1.0100 level with a breach targeting the 1.0150 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 1.0200 level. Its weekly RSI is bullish and pointing higher supporting this view.  On the downside, support comes in at the 1.0000 level. A turn below here will open the door for more weakness towards the 0.9950 level and then the 0.9900 level. Further down. Support comes in at 0.0850. All in all, the pair remains biased to the upside in the medium term.

Daily Analysis

USDJPY: Bullish, Eyes Further Upside
USDJPY: Having ended its corrective weakness and resumed its medium term uptrend, further bullishness is expected in the days ahead. On further upside, the 90.50 level will be targeted followed by the 91.47 level and then the 92.00 level. On the downside, support lies at the 89.64 level with a cut through there aiming at the 87.86 level followed by the 87.00 level and then the 86.00 level. We expect a respite to occur here and turn back up but if this fails to occur further decline could develop towards the 84.17 level. All in all, USDJPY remains biased to the upside in the medium term.

Note:This is an excerpt from Pro Plan, our Daily 7-Currency Research Package covering EURUSD, GBPUSD, USDJPY, AUDUSD, EURJPY, EURGBP and USDCAD. Get The Full Package with Trade Alerts Including 3 FREE Bonuses Now

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