USDJPY–Channel Break?

Bearish: Currently we are @110.69 in a range and just out of the channel. As we thought they USDX finished it’s 5th wave and now starting it’s move down. If we can break the 0.214 Fibo Support, we are looking for a continuation to the 0.500 Fibo @ 110.25. Watch for a 2 wave back up here. The average daily true range (ATR) for the pair currently is 67 pips.

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