Forex analytics and overview

GBP/JPY Bounces Off the Bottom: What’s Next?

09/12/2023

Less than a minute

2023.09.12 09:15

Scott Barkley

is currently trading at 181.50 within a range. There is a gap that has not been filled, which only happens 78% of the time. Our prediction is for the trend to continue towards the ATR target at 184.35, and our further target for the day is 1.618 Fibo at 184.94. It’s important to keep an eye on the USDX for direction. The average daily true range (ATR) for the pair is 143 pips, and its 90-day average is 152 pips. Currently, USDX is moving up to go down.

GBP/JPY Chart

09/12/2023

Less than a minute

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