USD/JPY – channel bounce at the bottom

Bullish: We are currently @ 149.81 in a channel in a range. We are looking for a continuation to the ATR Target @ 150.38 with the further target for today the 0.786 Fibo @ 150.81 Watch the USDX for direction. The average daily true range (ATR) for the pair is 92 pips per day and it’s 90 day average is 111 pips per day. USDX is currently threatening a move up.