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GBP/JPY Should Continue The Channel

11/02/2022

Less than a minute

2022.11.02 15:10

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Scott Barkley

Bearish:

Budrigannews.com – GBP/JPY is currently at 169.21 in a channel (and 3rd wave). We are looking for a move to the 1.000 Fibo at 168.28 with a further target the ATR target at 167.56. We have convergence on the hourly. Target up is 170.57 if it reverses. Watch the for any change in direction. The ATR for the pair currently is 264 pips per day and its 180 day average is 225 pips per day. USDX is currently down. FOMC today so might not move until after that.

GBPJPY-Should Continue The Channel