DerekUweri71
Long

Could this be a turning point for GBP JPY ?

FX:GBPJPY   British Pound / Japanese Yen
55 1 3
GBPJPY             has been selling off since the 4th July 2014 and is now a double bottom has formed at the bottom of a channel. Another line is drawn to indicate a possible Falling Wedge . Price is at a key level of support and a doji has formed.

With a stop loss at 170.50, 10 pips
Price could rally to the top of the channel to 172.200. 150 pips.
Excellent risk reward ratio if it works.
Nice doji on good support level.
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