EUR/JPY: Channel Opportunity
Scott Barkley | Mar 08, 2023 08:42AM ET
Bearish: EUR/JPY is currently at 144.56 after making the turn in a range and a channel. If we can break the support here, we are looking for a continuation to the ATR target at 143.66 area and then the 2.618 Fibo at 143.02.
We have convergence in play for the move. Watch the USDX for directions. The average daily true range (ATR) for the pair is 103 pips, and its 180-day average is 131 pips per day. USDX is currently moving up.
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