USD/JPY – The Channel Continues
Mar 28, 2023
Note: CB Consumer Confidence this AM
Bearish: We are currently @ 130.45 in a channel. IF we can break support here, we are looking for a continuation to the ATR Target @ 129.68 with a further target at the 1.000 Fibo @ 128.40. We have convergence in play for the move. Watch the USDX for direction. The average daily true range (ATR) for the pair is 195 pips and it’s 180 day average is 177 pips per day. USDX is currently moving down.