Bearish: USD/JPY is currently at 138.60 in a channel. We are looking for a continuation to the ATR aim at 137.53 with the overall target the 0.618 Fibo at 137.12. Watch the USDX for direction. The average daily true range (ATR) for the pair is 125 pips per day and it’s 90 day average is 130 pips per day. USDX is currently moving down.
USD/JPY Keeps Hinting to a Move Lower
