Bearish
EUR/JPY is trading, at time of writing, at 140.44 following a break out of the a-b-c corrective move. We are looking for a continuation to the 139.58 ATR target area and then support around the 139.40 level.
Watch the USDX for any change in direction; it may potentially be topping out as well. The ATR for the pair currently is 149 pips per day and its 180 day average is 150 pips per day.
