EUR/JPY – Rising wedge break

Bearish: We are currently @ 161.94 in a range and just out of a rising wedge which is bearish. We are looking for a continuation to the ATR target @ 161.30 with the further target for today the 160.86 area. We have divergence in play. Watch the USDX for direction. The average daily true range (ATR) for the pair is 104 pips per day and it’s 90 day average is 121 pips per day. USDX is currently threatening a move up.