Warren Gatland's unbeaten team face Grand Slam-chasing England at Twickenham on 12 March.
Prop Jenkins has a calf strain while second-row Charteris missed the 19-10 win over France with a knee injury.
"Luke Charteris is back running and Gethin Jenkins is progressing well," said forwards coach Robin McBryde.
Charteris missed the win over France after injuring his knee against Scotland and is not playing for his club Racing 92 this weekend.
The former Newport Gwent Dragons captain will be assessed on his return to the Wales squad on Sunday.
Record cap holder Jenkins, who made his 122nd appearance for Wales off the bench against France, has a history of calf muscle problems.
McBryde said the Cardiff Blues loose-head's experience in managing the injury means he is not ruled out of the game at Twickenham.
"It's a testament to him that he's lasted as long as he has with his re-hab," said McBryde.
"It's frustrating for him because he's done as much as he can to stop it happening again, but it has recurred.
"But he's more than aware what he needs to do to get himself back fit."
Wales are hoping to complete a historic double by beating England twice at Twickenham in the same season, having won there in the 2015 World Cup in September.
McBryde believes Wales will need to be at their best against an England team who have "a spring in their step" after wins over Scotland, Italy and Ireland.
The former Scarlets hooker coached Wales against Japan in 2013 when Eddie Jones - now in charge of England - guided the Brave Blossoms to a 23-8 win in Tokyo to level the series 1-1.
Wales were without a number of front line players who were on tour with the British and Irish Lions in Australia, but McBryde still rates the new England coach highly.
"He's a pretty good guy, he tells it like it is and he has a wealth of knowledge," he said.
"They seem to have a spring in their step again there. In fairness to what Eddie's done there, the players seem to be buying in to it.
"He's won three out of three. He couldn't have hoped for a better start and momentum is on their side so it just makes it a little more difficult for us."
Wales are optimistic about injured forwards Gethin Jenkins and Luke Charteris ahead of the Six Nations showdown with England.