Forex Opinion & Analysis
EUR/JPY Under Pressure: Bearish Indicators Suggest Further Weakness
Forex Strategy is Bearish: We are currently @ 157.05 in a range. We are looking for a continuation to the ATR target @ 156.21 area and then to the 0.618 Fibo @155.99. We have convergence for the down move. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 179 pips and it’s 90-day average is 173 pips per day.
Note: ISM manufacturing and Jolts on Tuesday!
