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USD/JPY Breaks Support, Big Shorting Opportunity

11/07/2022

Less than a minute

2022.11.07 14:35

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Scott Barkley

Bearish: is currently at 146.28 in a channel. If we can break the 2.618 Fibo support, we are looking for a continuation of the channel to the S5 at 145.10 with a further target of the 4.236 Fibo/ATR level at 144.88.

We have convergence on the hourly. target up is 148.45 if it reverses. Watch the for any change in direction. The ATR for the pair currently is 211 pips per day, and its 180-day average is 172 pips per day. USDX is currently down.

USD/JPY price chart.