Technical analysis of USD/JPY 05/07/2021
USD/CHF currency pair is in a downward correction on the daily chart. The pair broke through the support level of 0.9100 and is currently trading in the area of 0.9070, where (MA100), (MA200) and the lower line of the uptrend converged.
The technical picture suggests the pair will continue to decline as part of the correction to the level of 0.9040 (61.8% Fib).
Cancellation of the option to continue the decline in the pair will rise above 0.9200, what will indicate the resumption of the upward trend.
Created by Joshua Hayn