GBP/JPY: Channel Continuation
Scott Barkley | Dec 14, 2022 08:39AM ET
Bearish: GBP/JPY is currently at 1.6695 in a channel. If we can break the support here, we are looking for a continuation to the ATR target at 1.6600. We have convergence on the hourly. The target up is 1.6874 if it reverses.
Watch the USDX for any change in direction. The ATR for the pair currently is 174 pips per day, and its 180-day average is 192 pips per day. USDX is currently down.
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