SPONGE
Long

GBPJPY Bounce of channel, s1, and resistance.

FX:GBPJPY   British Pound / Japanese Yen
17 0 2
Looks like price will decline around 185.25 and then bounce of support caused by todays             s1 and yesterdays pivot point and recurring channel.
this is also where price turned yesterday. You can see the strong bounce off the pivot point . Things to look out for, are GBP news tonight. Also price may not drop past 185.600, It may bounce off the 200 moving average.

Enter at about 185.300 on reversal candle stick on hourly chart
stop 185.150
Safe take profit probably just below 186.
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