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GBP/JPY: Descending Wedge Indicates Drop

09/04/2024

Less than a minute

2024.09.04 10:12

is at 190.30 in a range. We are looking for a continuation to the ATR target at the 188.79 area.

We anticipate a bullish reaction there due to the range bottom. Watch the for direction, as it could negate all of this.

The average daily true range (ATR) for the pair is 207 pips per day and it’s 90 day average is 193 pips per day. My Forex Analysis says USDX is currently up.

GBPJPY – Descending wedge says down