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GBP/JPY Prepares for a Downward Shift After Rising Wedge Breakout

10/22/2024

Less than a minute

2024.10.22 12:17

Forex Strategies Bearish: is currently @ 195.64 in the top of a range. We are just breaking out of a rising wedge. We have divergence in play for the down move. We are looking for the continuation to the ATR target @ 194.61. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 199 pips and it 90 day average is 221 pips.

GBPJPY – Rising Wedge Breakout