EUR/JPY – Nice Channel Opportunity

Note: ADP was positive

Bearish: We are currently @ 144.56 after making the turn in a range and a channel.  IF we can break support here, we are looking for continuation to the ATR target @ 143.66 area and then the 2.618 Fibo @ 143.02. We have convergence in play for the move. Watch the USDX for direction. The average daily true range (ATR) for the pair is 103 pips and it’s 180 day average is 131 pips per day. USDX is currently moving up.