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EUR/JPY Back in the Channel

06/01/2023

Less than a minute

2023.06.01 11:00

Scott Barkley

Note: ISM Manufacturing PMI is this AM

Bearish: currently at 149.10 back in the channel. We are looking for a continuation to the 1.618 Fibo at 148.46 with the overall target the ATR target at 147.82.

Watch the USDX for direction. The average daily true range (ATR) for the pair is 102 pips per day and it’s 180 day average is 157 pips per day. USDX is currently moving down.

EURJPY – back in the channel