GBP/JPY correction opportunity

Feb 14, 2023
Note: CPI positive
Bullish: We are currently @ 161.52 in a channel.  We are looking for continuation to the ATR targets @ 162.54 area and then the weekly ATR/1.000 Fibo target @162.98. We have convergence in play for the up move but hinting divergence.  Could have a sell off quick at the target. Watch the USDX for direction. The average daily true range (ATR) for the pair is 178 pips and it’s 180 day average is 198 pips per day. USDX is currently threatening down.