GBP/JPY- Rising wedge or a channel

Bearish: Forex Strategies: Currently we are at 200.94 in the top of a range. WE have a possible rising wedge and if we continue through here we will target the ATR Target @ 199.50/ If this is a channel then watch for a bounce back to the top @ 201.36. We should see a reaction there. Watch the USDX for direction. The average daily true range (ATR) for the pair is 149 pips per day and it’s 90 day average is 143 pips per day. Forex Analysis says USDX is currently up.

Posted to Introduction to Forex Targe… on Jun 20, 2024 — 8:06 AM

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