USD/JPY, USD/CHF Eye Breakout Ahead of Key US Payrolls Data
USD/JPY and USD/CHF are testing critical resistance levels as dollar bulls position for potential breakouts ahead of Friday's US Non-Farm Payrolls report. USD/JPY has consolidated near 150.50, approaching the psychological 151.00 resistance, while USD/CHF hovers around 0.9050, threatening to breach the 0.9100 level. The US Dollar Index has gained 0.4% this week, supported by resilient economic data and hawkish Fed expectations. Markets are pricing in a 185,000 job addition for January, with unemployment expected to remain at 4.1%. A stronger-than-expected payrolls figure could accelerate dollar strength and confirm breakouts in both pairs. Technical indicators show bullish momentum building, with RSI readings above 60 for both pairs. Key support levels stand at 149.80 for USD/JPY and 0.9000 for USD/CHF. Traders should watch for volatility around the employment release, as disappointing data could trigger profit-taking and test these support zones.
Related Symbols:
USDJPY
USDCHF
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