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GBP/JPY: One More Move Up Likely

09/23/2024

Less than a minute

2024.09.23 12:58

Bullish to Bearish: Forex Strategies: Currently we are at 191.42 in a channel in a range. We are looking for a continuation to the ATR target at 192.40 area with a further target the 4.236 Fibo and range top at 193.40. We expect a reaction there.

Watch the USDX for direction, as it could negate all of this. The average daily true range (ATR) for the pair is 233 pips per day and it’s 90 day average is 198 pips per day. My Forex Analysis says USDX is currently down. GBPJPY – one more move up