Forex Trading: GBPJPY update...

The GBPJPY found resistance at the 207.75-80 level (squeezing to 207.90 high) before moving back lower all the way to the support level of 207.12 (207.10 was the low) in the next 20 minutes.  So I have the range pegged (see the post at 8:08 when the bottom at 207.12 was mentioned as a support level) for the time being.

The market has moved back toward the midpoint of the 207.80-207.12 range now as it prepares for the stock market.  A stock market that corrects will extend the downside.  One that surges higher (more than 150 points) will see the upper band broken. 

Be informed.  Be prepared.  Be a better trader.