GBPJPY

Waiting: Currently we are @ 131.95.  Two scenarios: Bullish:  a move to the range top @ 133.19 area).  This means the current structure is a bull flag – watch for the MACD to turn up 2: Bearish: A break down here would target the ATR target @ 130.39 (watch for the zero line break of the MACD. The average daily true range (ATR) for the pair currently is 156 pips.

Blog Post