Forex analytics and overview
USD/JPY trend set-waiting for profit
2023.02.02 13:39
USD/JPY trend set-waiting for profit
The USD/JPY pair is currently in a range and has broken out of the Triangle at 128.21. With an additional target of the ATR at 1127.25, we are hoping for a continuation to the 1.000 Fibo area at 127.44.
For continuation, convergence is in play; however, keep an eye out for the bounce at the range’s bottom. The USDX will provide guidance. The pair has an average daily true range (ATR) of 166 pips and a daily average of 161 pips over 180 days. Right now, USDX is threatening UP.
