In the ever-shifting landscape of global financial markets, it's essential to stay attuned to the latest developments in the world of forex trading. Recently, the USDCHF pair has hit a minor target, while the Japanese Yen (JPY) appears to be grappling with challenges posed by the Euro (EUR) and the New Zealand Dollar (NZD). Let's delve into the details and gain a better understanding of the current dynamics at play in these currency markets.

The NZDJPY Performance 

The New Zealand dollar is once again strong, rising with a daily close above entry 2 at 88.173. On the daily frame, traders may see the falling wedge price pattern that indicates an upward trend. Before entering with a daily frame and taking on the resistance at price point 88.951, we wait for the price to break through the upper half of the wedge. The recommended target price of 91.647 is still in place.

The EURJPY Performance

As expected, this pair moved higher after the resistance level of 157.841. Last month, sellers dominated the market, causing the action to consolidate. Target 1 was missed by a few points, and traders were urged to close any holdings. It appears that buyers found support at the previously noted 155.505 level. Target 2 will be chased if we breach the previous high price and close above 159.881. Learn more about JPY and this can better your understanding of EUR/JPY.

The USDCHF Performance

Price has been consolidating on the major levels of this pair. USD strength gave us a new high on the monthly frame in September, it seems we are retracing from the big impulse to the upside. Traders take note that we are looking at taking positions on minor levels with the knowledge that there is more upside on this pair. Target 1 is set at a price point of 0.90182 HIT. Target 2 is set at a price point of 0.89328. The micro frames seemed to form a support, the price broke 0.90513 and continued the retracement.

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Final Thoughts On Today’s Analysis 

In conclusion, the USDCHF pair has recently hit a minor target, indicating a notable movement in the forex market. Simultaneously, the Japanese Yen (JPY) is facing challenges in its performance against the Euro (EUR) and the New Zealand Dollar (NZD). 

These dynamics underline the importance of staying informed and conducting thorough research. Moreover, making data-driven trading decisions in the ever-evolving world of forex trading. As the global financial landscape continues to evolve, it's crucial for traders to adapt, remain vigilant, and make well-informed decisions to navigate forex trading effectively. Subscribe to our YouTube channel to learn more about our analysis.