GBP/JPY is currently at 172.39 and back in the channel. If we can break resistance here, we are looking for a continuation to the ATR target of 173.23.
Watch the USDX for directions. The average daily true range (ATR) for the pair is 150 pips per day, and the 180-day average is 168 pips per day. USDX is currently moving down.
