GBP/JPY is currently going down with a bullish bias at the time of this post. We are currently at 154.73.
We have divergence in play on the hourly compressions. We are looking for an initial move to the ATR target at the 153.75 area with a further target of the 0.382 Fibonacci level at 153.32.
Watch the DXY for any change in direction. The ATR for the pair currently is 106 pips per day and its 180-day average is 111 pips per day.
