CHF/JPY Prepares for a Down Move—Key Levels to Watch

CHF/JPY Forex Strategy is Bearish: We are currently @ 166.78 in a range. If we can break slope support, we are looking for a continuation to the ATR target @ 165.97 area, with a further target the 2.618 Fibo  @ 165.44 area.  USDX is currently down but near a bottom. Watch the US Dollar Index Futuresfor direction. The average daily true range (ATR) for the pair currently is 135 pips per day and it’s 90-day average is 144 pips per day.

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