USD/JPY: Big Shorting Opportunity Awaits Below This Level

Bullish: Forex Strategies: Currently, USD/JPY is at 146.39 in a channel.

We looking for a continuation to the ATR target at 144.71 and then the day chart bottom at 142.18. Watch the USDX for direction, as it could negate all of this.

The average daily true range (ATR) for the pair is 261 pips per day, and its 90-day average is 152 pips per day.

My forex analysis says USDX is currently down.

Source