USDPY Rising wedge breakout opportunity
Bearish: We are currently @ 136.92 in a trend an a 5th wave start. IF we can break support here, we are looking for a continuation to the ATR Target @ 135.25 with a further target the 0.786 Fibo @ 134.54 area. We have convergence on the hourly. The target up is 139.00 if it reverses. Watch the USDX for any change in direction. The ATR for the pair currently is 188 pips per day and its 180 day average is 183 pips per day. USDX is currently down.