NZD/JPY Turns Bearish: Positioning for Drops to Key Fibonacci Levels

Forex Strategy is Bearish: We are currently @ 91.57  at a significant top. If USDX continues up, we are looking for a continuation to the ATR target  @ 90.88 area and then to the 0.618 Fibo @ 90.79.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 94 pips and it’s 90-day average is 113 pips per day.

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