Today's Outlook for USDJPY & USDCHF | ForexGen

USDJPY Outlook

Yesterday the USDJPY attempted to move lower, bottomed at 108.70 before whipsawed to the upside, topped at 109.89 and closed at 109.53. My model goes mixed with neutral bias. Immediate support is seen at 109.20. Initial resistance at 109.92. CCI in neutral area in all 3 time frames (hourly, 4h, daily).

USDCHF Outlook

The USDCHF downside correction seemed limited yesterday. The pair bottomed at 1.0915 but closed higher at 1.0972. I am expecting a ranging market between 1.1023 and 1.0914 today. We need a breakout to find a clearer direction. CCI in neutral area on daily chart.