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NZD/JPY Looking to Bounce Lower

09/19/2024

Less than a minute

2024.09.19 11:08

is at 89.45 in a channel in a range. We already did our ATR for today but a juicy spot is right above us. We are looking for a continuation to the 2.618 Fibo at the 90.66 area with a further target the 0.500 Fibo at 91.04.

Watch the USDX for direction, as it could negate all of this. The average daily true range (ATR) for the pair is 107 pips per day and it’s 90 day average is 100 pips per day. My Forex Analysis says USDX is currently down. NZDJPY – Future move