GBP/JPY Breakout

 | Aug 04, 2020 08:33AM ET

GBP/JPY Bearish: We are currently at 138.10 after a breakout. We have the start of convergence for the downside move on the 60-minute chart.  We are looking for a continuation to the ATR target at 137.42 and maybe the 0.500 Fibo at 137.11.  Watch the USDX for direction. The ATR for the pair currently is 94 pips per day.