EUR/JPY Bearish: Currently, we are at 121.13 on the top of a channel. A continuation here would the ATR Target at 120.62 and then the 0.785 Fibonacci at 119.98 area. The average daily true range (ATR) for the pair currently is 71 pips with a 180-day ATR of 71 Pips. WATCH THE USDX for more clues.