EUR/JPY double bottom

Scott Barkley ProAct Traders

Bearish: Currently we are @ 122.62 in the bottom of a range. IF we can break here, we are looking for a continuation initially to the ATR Target @ 122.00-10 and then to the 1.270 Fibo @ 120.74. The average daily true range (ATR) for the pair currently is 72 pips but its 180-day ATR is 89 pips a day.

Author

Scott Barkley

ProAct Traders

Scott Barkley is the President of ProAct Traders LLC located in Round Rock, Texas. Scott graduated from the institute For Latin American Studies in Cuernavaca, Mexico.

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