GBPJPY starting a 3rd wave

Bearish:  We are currently @ 165.99 after putting in a second corrective wave. We have convergence to the downside.  We are looking for a continuation to the ATR target@ 163.45 area and then the S6@ 161.86 area. Watch the USDX for any change in direction. The ATR for the pair currently is 240 pips per day and its 180 day average is 205 pips per day. USDX is currently threatening up at the time of this post.  

#USDJPY

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