Bearish: USD/JPY is currently at 1.2664 in a trend in a 5th wave. We are looking for a continuation to the ATR target at 145.80 with the further target the Day chart bottom at 145.10. area.
Needs the USDX to start back down. Watch the USDX for direction. The average daily true range (ATR) for the pair is 138 pips per day and it’s 103 day average is 93 pips per day. USDX is trying to move up.
