USDJPY-break support-big opportunity

Bearish: We are currently @ 146.28 in a channel. IF we can break the 2.618 Fibo support, we are looking for a continuation of the channel to the S5 @ 1145.10 with a further target the 4.236 Fibo/ATR target @ 144.88. We have convergence on the hourly. Target up is 148.45 if it reverses. Watch the USDX for any change in direction. The ATR for the pair currently is 211 pips per day and its 180 day average is 172 pips per day. USDX is currently down.

Posted to Introduction to Forex Targe… on Nov 07, 2022 — 8:11 AM

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