EUR/JPY: Breakout Opportunity

Published 07/25/2023, 08:46 AM
EUR/JPY
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EUR/JPY is currently at 156.19 after breaking out of its previous movement. The MACD indicator suggests a downward trend. Our prediction is that the pair will continue to decline, reaching the ATR at 155.07, with an ultimate target of the 1.000 Fibo at 1153.53. This will only occur if the USDX continues to rise. Keep an eye on the USDX for guidance. It's important to note that the pair's average daily true range (ATR) is 141 pips per day, with a 90-day average of 129 pips per day. Currently, the USDX is trending upwards. Please be advised that this is my last post until next week, as I will be going on vacation.

EUR/JPY Chart

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