GBP/JPY – Trying to make the turn
Bearish: We are currently @ 185.26 in a range. We have a break of the slope support and as soon as we put in a small top we are looking for a continuation to the 0.786 Fibo @ 184.40 with the further target for today the ATR Target @ 183.86. Watch the USDX for direction. The average daily true range (ATR) for the pair is 142 pips per day and it’s 90 day average is 150 pips per day. USDX is currently threatening a move up.