USD/JPY – can’t break resistance

Note: FOMC is today

Bearish: We are currently @ 147.54 just above slope support. If we can break through the support here, we are looking for a continuation to the ATR target @ 146.74 with the further target the 1.270 Fibo @ 146.65 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 116 pips per day and it’s 90 day average is 121 pips per day. USDX is down.

Posted to Introduction to Forex Targe… on Jan 31, 2024 — 8:01 AM

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