{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-anticipates-a-pullback\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-anticipates-a-pullback\/","headline":"GBPJPY Anticipates a Pullback","name":"GBPJPY Anticipates a Pullback","description":"Market Analysis: Price Aims the 200.300 Supply Level GBPJPY has exhibited a robust bullish trend following the pivotal break above the 193.380 level. This upward momentum propelled the pair to a significant supply level at 200.300 in late April 2024, before encountering resistance that led to a retracement. GBPJPY Significant Zones Resistance Levels: 200.300, 203.800Support […]","datePublished":"2024-06-06","dateModified":"2024-06-06","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"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.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/06\/rtxiAETb-1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/06\/rtxiAETb-1.png","height":613,"width":1195},"url":"https:\/\/forexschoolonline.com\/gbpjpy-anticipates-a-pullback\/","about":["charts","Forex","Forex Strategies","Forex Trading Tools","FX Technical Analysis","GBP\/JPY","GBPJPY","Price Action Charts in Focus","Price Action Trigger Signals","Support & Resistance","Technical Analysis","Trade Idea","Trade Setups","Trading","Trading Mindset & Psychology","Trading strategy"],"wordCount":242,"keywords":["Forex","forex price action","GBPJPY","GBPJPY GBP\/JPY","Market Anticipation","Market Expectation","Price Action","Price Analysis","Price Chart","Technical Analysis"],"articleBody":"Market Analysis: Price Aims the 200.300 Supply LevelGBPJPY has exhibited a robust bullish trend following the pivotal break above the 193.380 level. This upward momentum propelled the pair to a significant supply level at 200.300 in late April 2024, before encountering resistance that led to a retracement.GBPJPY Significant ZonesResistance Levels: 200.300, 203.800Support Levels: 193.380, 190.200The recent rally saw the price reapproach the 200.300 level, yet it failed to effectively breach this threshold, resulting in a mild pullback. Despite this, the daily Moving Average continues to signal an underlying bullish momentum, supported by the increase in market strength indicated by the daily Relative Strength Index, which underscores the potential for a continued significant bullish trend.The recent price action has also been characterized by a notable decline after retesting the 200.300 level, which saw the price erode the 4-hour liquidity below the market. This move did not engage the daily order block, suggesting the persistence and intensity of the bullish momentum. Furthermore, the liquidity concentration at the 200.300 level acts as a magnet, drawing the market towards it.Market ExpectationThe market suggests that a breach above the 200.300 price level is on the horizon, as the market seeks to capture the liquidity above this resistance. Upon achieving this, the price anticipates a potential pullback towards the daily order block.Note:\u00a0Forexschoolonline.com\u00a0is not a financial advisor. Research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}