NFP Fridays usually risk-off events; GBP/JPY worth watching closely

I’m not sure if the market has big enough positions to warrant some risk-off trading today but with the NFP tonight, it certainly is possible.

One interesting pair to watch will be GBP/JPY with many traders (yours truly included) watching the evolving wedge break on the daily chart. This should be a bullish event but the lack of follow through suggests to me that the market might have bought enough already? Bears can consider selling exhaustive rallies to 173.70.