After a trend breakout, EUR/JPY currently trades at 135.34 in a channel. We are looking for an initial move to the ATR target at the 136.30 area and then the 0.214 Fibonacci at 136.84.
Watch the DXY for any change in direction. The ATR for the pair currently is 154 pips per day, and its 180-day average is 136 pips per day. DXY is currently down at the time of this post.
