USD/JPY –Double top or continuation
Bullish to Bearish: We are currently @ 146.03 in a channel. We have convergence in play. If we can push through a double top here we are looking for a continuation to the 1.618 Fibo @ 147.28. A double top might turn it. Watch the USDX for direction. The average daily true range (ATR) for the pair is 111 pips per day and it’s 90 day average is 126 5ips per day. USDX is currently moving down.