EUR/JPY Might Break Trading Range
Scott Barkley | Sep 11, 2023 08:45AM ET
EUR/JPY is currently trading at 156.96 within a channel and range. There is an unfilled gap, which is typically filled only 78% of the time. If the support is broken, we can expect a continuation to the ATR Target at 156.60 with the further target for today being 1.000 Fibo at 155.91. To determine the direction, keep an eye on the USDX. The average daily true range (ATR) for the pair is 110 pips per day, and its 90-day average is 122 pips per day. Currently, USDX is moving downwards.
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