EUR/JPY –Triple top in place

Aug 17, 2023

Bearish: We are currently @ 1158.98 in a possible start of a rune to the bottom. We have divergence in play. If we can push through slope support here we are looking for a continuation to the ATR target @ 158.00 with the overall target today the 2.618 Fibo@ 1157.48. Watch the USDX for direction. The average daily true range (ATR) for the pair is 137 pips per day and it’s 90 day average is 126 pips per day. USDX is currently moving down.