• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

ForexSchoolOnline.com

Learn to Trade Forex Online

  • Compare Brokers
    • Broker Type
      • Paypal Brokers
      • Swap-Free Brokers
      • Low Spread Brokers
      • ECN / STP Brokers
      • Market Maker Brokers
      • Non Dealing Desk Brokers
      • Low Minimum Deposit Brokers
    • Country
      • Brokers for Australia
      • Brokers for South Africa
      • Brokers for the UK
      • Brokers for the US
      • Brokers for Nigeria
    • Regulation
      • FCA Regulated Brokers
      • ASIC Regulated Brokers
      • FSCA Regulated Brokers
      • CFTC Regulated Brokers
    • Platform
      • MT4 Brokers
      • MT5 Forex Brokers
    • Strategies
      • Hedging Forex Brokers
      • Scalping Forex Brokers
      • Carry Trade Forex Brokers
      • Brokers for Indicators and EA’s
  • Start Here
    • Start Trading Guide
    • Beginner Trading Lessons
  • Free Forex Course
    • Public Login
    • Register
    • Password recovery
  • Lessons
    • Strategies
    • Videos
    • MT4 Guides
    • Money Management
  • Trade Setups
  • Tools
    • Correct Free Demo Charts
    • Forex Journal Download
    • Position Size Calculator
    • FULL List of Tools
    • Forex Demo Accounts
  • Price Action Guide
  • Free Course

GBPJPY Anticipates a Bullish Trend Continuation

Johnathon Fox
12/25/2024 | UPDATED ON: 12/25/2024

Market Analysis: GBPJPY Bullish Momentum Persists Amid Key Resistance Challenges

The GBPJPY currency pair has recently experienced a notable bullish breakout, continuing its upward trend. This movement followed a prolonged consolidation phase below the crucial 169.580 level, during which the pair traded within a narrow range for an extended period. The breakout above this level ended the consolidation and set the stage for a robust bullish trajectory.


GBPJPY Significant Zones

Resistance Levels: 198.830, 207.960
Support Levels: 180.040, 177.750
GBPJPY Anticipates a Bullish Trend Continuation
The breakout above 169.580 ignited strong upward momentum, propelling GBPJPY into a sustained bullish trend. The pair reached a significant peak in early June 2024, where selling pressure triggered a sharp correction. This pullback slightly breached the 188.040 demand level, raising concerns about a potential trend reversal. However, the trend line remained intact, signaling ongoing bullish strength. Subsequent price action confirmed the trend line as support, with the pair rebounding multiple times to continue its bullish movement.

In recent trading sessions, GBPJPY tested the critical resistance level at 198.830. Although the initial test resulted in a bearish reaction, the pair swiftly reversed direction, reflecting the market’s determination to challenge this level again. Price action indicates an imminent breakout above 198.830, which could open the path for further bullish advances.

The daily Relative Strength Index highlights the pair’s rising momentum, aligning with the overall bullish sentiment. However, the 4-hour RSI reveals overbought conditions, suggesting the possibility of a short-term bearish correction. These pullbacks are likely to be brief, presenting opportunities for buyers to re-enter the market.

GBPJPY Anticipates a Bullish Trend Continuation
Market Expectation

The broader trend for GBPJPY remains firmly bullish, with any bearish moves expected to be temporary. A decisive breakout above the 198.830 resistance level could act as a catalyst for further upside, potentially targeting higher supply zones. Forex signals reinforce this outlook, providing traders with insights to monitor key levels for optimal entry points.

 

Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not for your investing results.

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
Previous Post: « NZDUSD Price Keeps Falling
Next Post: EURUSD Buyers Pause as Momentum Falters »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Forex School Online

High Probability Price Action Trading

How to make, manage and take profit from trades in the markets

Start Learning (It's Free!)

Turn Your Trades into Winners!

The Price action course is the in-depth advanced training on assessing, making and managing high probability price action trades.

Sign up for Free!

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

Footer

Get Our FREE Course, Bonus Strategies & Indicators!
X
Join Us Now!

Your capital is at risk.

X

CORNERSTONE LESSONS

Forex Trading for Beginners

Price Action Trading

How to Trade Forex

Technical Analysis

Forex Charts

Forex Trading Strategies

Money Management 

Compare Brokers

Best Forex Brokers

Forex Demo Accounts

Best Forex Trading Platforms

Forex Apps

Swap Fee Accounts

MT4 Brokers

CATEGORIES

Forex Videos

Trading Lessons

Weekly Trade Ideas

Start Here Guide

ForexSchoolOnline.com helps individual traders learn how to trade the Forex market

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs.

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.

We Introduce people to the world of currency trading. and provide educational content to help them learn how to become profitable traders. we're also a community of traders that support each other on our daily trading journey

Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Copyright © Forex School Online Sitemap  - Privacy Policy - Disclaimers & Terms of Use - CONTACT US