Confluence of support

FX:GBPJPY   British Pound / Japanese Yen
164 2 1
Price is bouncing off of the confluence of support, which is a horizontal line, the .382 fib and the upper channel line which it broke through back in late march.

Buy here with a tight stop, with a target around April's highs, will set up a 3:1 reward to risk ratio.
Like this setup. I have actually been waiting for the reversal since last week.
matt_forex daterza
I think I was a little early on this one.
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