The USD is mostly lower
As the trading week moves closer to the close, a snapshot of the strongest and weakest for the week is more in focus. For the week, the JPY is the strongest, while the CAD is the weakest. For the USD, the greenback is mostly lower with the sharpest decline being a near 1% fall in the USDJPY. The dollar is also lower versus the EUR (-0.40%), the NZD (-0.38%), the GBP (-0.32%) and the AUD (-0.13%). It rose the most vs the CAD (+0.59%) and the CHF (+0.41%).
The biggest moving currency pair was the CADJPY which declined -1.53%.
Looking at that chart, below of that pair, technically you cannot deny the bearish shift.
ON Thursday, the fall stalled early in the session near the 50% retracement level at 80.284. After a brief rally, that level was broken and moved to a lower trend line and near the 61.8% retracement at 79.859 level (the low reached 79.81).
Today, the price has moved higher and lower. It is currently back below the 50% midpiont at 80.284. Stay below the 50% keeps the tilt to the downside.
Taking a broader look at the daily chart, the swing low from June 1 2019 at 79.969 was broken on Thursday but not today (the low was 79.99 today). So that level – in addition to the 61.8% as 79.859 – will be eyed as downside targets that would need to be broken again. PS it may also be support/risk defining level for dip buyers/profit takers.