EUR/JPY is currently at 157.27 in a channel in a range. We have convergence for the downside move. A break of this support and we are looking for a continuation to the ATR Target at 156.66 with the further target for today the range bottom at 156.50. Watch the USDX for direction. The average daily true range (ATR) for the pair is 102 pips per day and it’s 90 day average is 121 pips per day. USDX is currently moving up.
EUR/JPY Looks Down to the Range Bottom
