EUR/JPY Bullish: Currently we are at 121.59 just breaking out of a falling wedge in the range. IF we can break here, we are looking for a continuation initially to the ATR target at 122.22 and then to the 0.618 Fibonnaci at 123.09. Look for a pullback there. The average daily true range (ATR) for the pair currently is 70 pips but its 180-day ATR is 86 pips a day.