USD/JPY-Starts a 5th wave

Bearish: Currently we are at 153.53 in a channel and a possible 5th wave. We are looking to continue to the 1.000 Fibo target @ 152.10 with a further target the ATR @ 152.00 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 188 pips per day and it’s 90 day average is 115 pips per day. USDX is currently down.

Posted to Introduction to Forex Targe… on May 06, 2024 — 8:05 AM
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