USD/JPY-Will it break back in the channel

Bearish: Currently we are at 154.45 barely out of a channel and a possible 5th wave. IF we break back in the channel, we are looking to continue to the ATR target @ 152.54 with a further target the 0.382 Fibo @ 152.28 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 190 pips per day and it’s 90 day average is 115 pips per day. USDX is currently threatening down.

Posted to Introduction to Forex Targe… on May 07, 2024 — 8:05 AM

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