GBPJPY channel continuation

Note: FOMC is this afternoon

Bearish: We are currently @ 1.6695 in a channel. IF we can break support here, we are looking for a continuation to the ATR Target @ 1.6600. We have convergence on the hourly. The target up is 1.6874 if it reverses. Watch the USDX for any change in direction. The ATR for the pair currently is 174 pips per day and its 180 day average is 192 pips per day. USDX is currently down.

Posted to Introduction to Forex Targe… on Dec 14, 2022 — 8:12 AM
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