USD/JPY: Short-Term Support Holding Present, but for How Long?

Forex Strategy is Bearish: USD/JPY is currently at 146.76 in a 5th fractal wave in a channel. We are looking for a continuation to the ATR target at the 146.10  area, with a further target the 1.618 Fibo at 144.97 area. USDX is currently down. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 160 pips per day, and its 90-day average is 151 pips per day.

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