USD/JPY – keeps hinting down

Note: Retail Sales was negative!

Bearish:  We are currently @ 138.60 in a channel.  We are looking for a continuation to the ATR Target @ 137.53 with the overall target the 0.618 Fibo @ 137.12. Watch the USDX for direction. The average daily true range (ATR) for the pair is 125 pips per day and it’s 90 day average is 130 pips per day. USDX is currently moving down.