EUR/JPY – new channel working

Bearish: We are currently @ 158.51 in a new channel in a range. We have convergence for the continuation. We are looking for a continuation to the ATR target@ 157.79 with the further target for today the S4 support @ 157.54. Watch the USDX for direction. The average daily true range (ATR) for the pair is 114 pips per day and it’s 90 day average is 123 pips per day. USDX is currently moving up.