EUR/JPY Bearish, Could Break Lower

 | Nov 30, 2021 08:48AM ET

EUR/JPY is bearish at the time of this post. We are now at 128.16 in a channel and a triangle.

If we break the triangle, we are looking for an initial move to the average true range (ATR) target at 127.29.

Watch the DXY for any change in direction. The ATR for the pair currently is 89 pips per day, and its 180-day average is 84 pips.