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GBP/JPY: Channel Continuation

12/14/2022

Less than a minute

2022.12.14 11:31

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Scott Barkley

Bearish: 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 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.

GBP/JPY price chart.