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EURJPY Continuing the Channel

Bearish:  USDX is currently going up at the time of this post but near a top AFTER FOMC.  We are currently @ 128.59. We have convergence in play on the hourly compressions. We are looking for an initial move to the ATR target @ 128.04 area with a further target the 1.270 Fibo @ 127.29. Watch the USDX for any change in direction. The ATR for the pair currently is 85 pips per day and its 180 day average is 84 pips per day.
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