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USDJPY starting a downside channel


Bearish:  We are currently @ 135.44 after putting in what appears to be a top. We have convergence to the downside.  We are looking for a continuation to the ATR [email protected] 134.53 area and then the S4 @ 134.39 area. Watch the USDX for any change in direction. The ATR for the pair currently is 171 pips per day and its 180 day average is 146 pips per day. USDX is currently threatening up at the time of this post.  

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