EUR/JPY – back in the channel

Note: ISM Manufacturing PMI is this AM

Bearish:  We are currently @ 149.10 back in the channel.   We are looking for a continuation to the 1.618 Fibo @ 148.46 with the overall target the ATR target @ 147.82.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 102 pips per day and it’s 180 day average is 157 pips per day. USDX is currently moving down.