Currently, GBP/JPY is at 188.47 in a channel. We are looking for a continuation up to the 1.000 Fibo at 189.97 and then the ATR target at 190.92.
Watch the USDX for direction, as it could negate all of this. The average daily true range (ATR) for the pair is 360 pips per day, and its 90-day average is 191 pips per day.
My forex analysis says USDX is currently up.