GBP/JPY – 5th wave starting down

Bearish: We are currently @ 181.44 in a 5th wave. We are looking for a continuation to the ATR Target @ 180.00 with the overall target the o.382 Fibo @ 35. Watch the USDX for direction. The average daily true range (ATR) for the pair is 144 pips per day and it’s 90 day average is 164 pips per day. USDX is currently moving up.