EUR/JPY – bounce opportunity

Note: FOMC today

Bullish: We are currently @ 164.45 in a channel after breaking out of the range. We are looking to bounce and continue the channel to the ATR target @ 165.18 with a further 1.618 Fibo target @ 165.50 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 121 pips per day and it’s 90 day average is 124 pips per day. USDX is up.

Posted to Introduction to Forex Targe… on Mar 20, 2024 — 8:03 AM

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