EUR/JPY – new channel starting

Note: CB Consumer Confidence is this AM

Bearish: We are currently @ 150.08 after putting in a top.  IF we can break support here, we are looking for a continuation to the 1.000 Fibo/ATR target @ 149.20-30. Watch the USDX for direction. The average daily true range (ATR) for the pair is 113 pips per day and it’s 180 day average is 129 pips per day. USDX is currently moving down.