GBPJPY– 3rd wave time

Bearish: We are currently @ 160.02 in a 3rd wave. With this pullback, we are looking to continue to the ATR target @ 158.62 area with a further target @ 158.00. Watch the USDX for direction. The average daily true range (ATR) for the pair is 187 pips and it’s 180 day average is 209 pips per day. USDX is currently sideways.