GBP/JPY: 1-hour

Now here's a neat 100-pip range that's been holding for guppy. The pair has been pacing back and forth between support near 121.50 and resistance just below the 122.50 minor psychological level. The pair just bounced from support but is still lingering at the bottom of the range. Stochastic just climbed out of the oversold area, which implies that pound bulls could charge and take GBP/JPY back up to the 122.50 area.