$EURJPY- WEDGE?

Currently we are at 149.05..  A couple of differentscenarios.  1:  bullish: a move to the upper day chart trend line @150.68 area) and break out we will look to the 0.382 fibo @ 151.52.  2:Bearish : A break down at  the 1.2996 area would set up a nice move to theS7 @ 147.10. The average daily true range (ATR) for the pair currently is 233pips.

Posted to Introduction to Forex Targe… on Jun 17, 2013 — 9:06 AM
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