USD/JPY –still in a 3rd wave

Note: Core Retail Sales was positive

Bullish: We are currently @ 145.67 in a 3rdvwave in a BIG channel. If we can push through resistance here we are looking for a continuation to the ATR target @ 147.20 with the overall target today the 1.000 Fibo@ 147.23. Watch the USDX for direction. The average daily true range (ATR) for the pair is 153 pips per day and it’s 90 day average is 127 pips per day. USDX is currently moving up.

Posted to Introduction to Forex Targe… on Aug 15, 2023 — 8:08 AM

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