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.