EUR/JPY – Breakout opportunity

Note: CB Consumer confidence this AM!

Bearish:  We are currently @ 156.19 after a breakout of the last move. MACD points the way down. We are looking for a continuation to the ATR Target @ 155.07 with the overall target the 1.000 Fibo @ 1153.53. This will require that USDX continues up. Watch the USDX for direction. The average daily true range (ATR) for the pair is 141 pips per day and it’s 90 day average is 129 pips per day. USDX is currently moving up. NOTE: Last post till next week- I am going on vacation.