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GBP/JPY Breaks Out of a Wedge

11/17/2022

Less than a minute

2022.11.17 11:50

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Scott Barkley

Bearish: is currently at 165.53 after the wedge breakout. If we can break support here, we are looking for a continuation to the ATR {{0|target}
} at 163.90 with a further target the support at 163.49.

We have possible convergence on the hourly. If it is a flag pattern target up is 167.80 if it reverses. Watch the for any change in direction. The ATR for the pair currently is 230 pips per day, and its 180-day average is 222 pips per day. USDX is currently up.

GBP/JPY price chart.