Bullish:  Currently we are @ 122.45 after completing a bounce on the range bottom.  We are looking for a continuation initially to the 1.618 Fibo @ 123.47 and then continue to the 2.618 Fibo @124.83.  The average daily true range (ATR) for the pair currently is 65 pips but its 180-day ATR is 85 pips a day.

Chart

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