USD/JPY is at 145.31 in a channel and a range. We are looking for a continuation to the R4/ATR target at the 146.00 area. We anticipate a bearish reaction there.
Watch the DX for direction, as it could negate all of this. The average daily true range (ATR) for the pair is 183 pips per day and its 90-day average is 161 pips per day. My Forex Analysis says USDX is currently up.