GBP/JPY: 5th Wave to Lead Pair Lower

GBP/JPY
+0.10%

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Bearish:  GBP/JPY is currently at 181.44 in a 5th  wave.  We are looking for a continuation to the ATR at 180.00 with the overall target the o.382 Fibo @ 35. Watch the USDX for direction. The average daily true range (ATR) for the pair is 144 pips per day and it’s 90 day average is 164 pips per day. USDX is currently moving up.

GBPJPY – 5th wave starting down

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