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GBP/JPY Could Bounce Higher

05/17/2023

Less than a minute

2023.05.17 15:03

Scott Barkley

Bullish: is currently at 170.76 in a channel and trying to continue the 5th wave. We are looking for a continuation of the ATR target at 171.90 with a further target of 1.000 Fibo in the 172.19 area.

Watch the for direction. The average daily true range (ATR) for the pair is 171 pips per day, and its 180-day average is 173 pips per day. USDX is currently moving up.

GBP/JPY price chart.