GBP/JPY – Double top now in place

Bearish: We are currently @ 187.50 in a range with a double top now in place. We are looking for a continuation to the ATR target @ 186.83 with the further target for today the 0.500 Fibo @ 186.48 area. We have convergence in play. Watch the USDX for direction. The average daily true range (ATR) for the pair is 143 pips per day and it’s 90 day average is 149 pips per day. USDX is currently threatening a move up.