In the current trading landscape, we find ourselves at a pivotal 190.96 mark within a trading range for the GBP/JPY pair. The focal point now shifts to the 1.000 Fibonacci resistance level. Surpassing this barrier could propel us toward the targeted Average True Range (ATR) at 191.62.
Investors and traders alike should keep a keen eye on the US Dollar Index (USDX) for broader market cues. The GBP/JPY pair exhibits a daily volatility of 120 pips, with its 90-day volatility stretching to 143 pips. Notably, the USDX has recently demonstrated a downward trajectory.
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