Could this be a turning point for GBP JPY ?
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.
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.