EURJPY continuation?

Bullish: Currently we are @ 118.02 in a channel in a Range. We are looking for a continuation initially to the ATR target @ 118.64 and then to the 0.500 Fibo @ 119.52 with an overall target the square up @ 120.37 area. Watch for a reaction there. The average daily true range (ATR) for the pair currently is 85 pips and its 180-day ATR is 126 pips a day.

 

Blog Post