GBPJPY Breakout

Bearish: We are currently @ 138.10 after a breakout. We have the start of convergence for the downside move on the 60-minute chart.  We are looking for a continuation to the ATR target @ 137.42 and maybe the 0.500 Fibo @ 137.11.  Watch the USDX for direction. The ATR for the pair currently is 94 pips per day.  

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