EUR/JPY – Breaks the flag

Note: ISM Services PMI this AM

Bearish:  We are currently @ 143.42 after breaking out of the flag pattern.   We are looking for a continuation to the ATR Target/0.500 Fibo @ 142.24 with a further target at the  0.382 Fibo @ 141.60.  We have convergence in play for the move. Watch the USDX for direction. The average daily true range (ATR) for the pair is 200 pips per day and it’s 180 day average is 174  pips per day. USDX is currently moving down .