Scott Barkley
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Scott Barkley in Proact Traders,

$USDJPY– rectangle break?

Currently we are 109.46 in a large range and attempting a rectangle break. We are looking to break up to the 0.214 Fibo @ 110.56.  Watch the USDX for signs of weakness at the end. The average daily true range (ATR) for the pair currently is 124 pips.