EUR/JPY is currently going up at the time of this post but near a top after FOMC. We are currently at 128.59.
We have convergence in play on the hourly compressions. We are looking for an initial move to the ATR target at 128.04 area with a further target of the 1.270 Fibo at 127.29.
Watch the DXY for any change in direction. The ATR for the pair currently is 85 pips per day and its 180-day average is 84 pips per day.
