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GBP/JPY: Pair Breaks Out Of A Channel

Bullish to Bearish: is currently bearish at the time of this post. We are currently at 156.64 with a breakout of the channel.

We are looking for an initial move to the square up at 157.21 and then to the ATR target at the 157.44 area. If a corrective move occurs, a sell-off is likely there.

Watch the for any change in direction. The ATR for the pair currently is 113 pips per day and its 180-day average is 119 pips per day.

GBP/JPY 1-hour chart technical analysis.

GBP/JPY 1-hour chart technical analysis.

Trading analysis offered by Complex Trader - a RobotFX partner.