DerekUweri71
Long

Could this be a turning point for GBP JPY ?

FX:GBPJPY   British Pound/Japanese Yen
46 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.
Mazen_alhegili
2 years ago
Nice doji on good support level.
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