{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-anticipates-new-bullish-momentum\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-anticipates-new-bullish-momentum\/","headline":"GBPJPY Anticipates New Bullish Momentum","name":"GBPJPY Anticipates New Bullish Momentum","description":"Market Analysis – Price Encounters a Pause GBPJPY manifested a significant shift in market sentiment in mid-January 2024, moving from a bearish trend to a bullish trend. Following this market trend shift, the GBPJPY continued its upward trajectory, consistently setting new highs and ultimately overcoming the significant 196.00 resistance level. GBPJPY Significant Zones Resistance Levels: […]","datePublished":"2024-05-04","dateModified":"2024-05-04","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\/05\/L43oEUsz.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/05\/L43oEUsz.png","height":611,"width":1195},"url":"https:\/\/forexschoolonline.com\/gbpjpy-anticipates-new-bullish-momentum\/","about":["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","Trading","Trading Mindset & Psychology"],"wordCount":245,"keywords":["Daily Chart","Forex","forex price action","FX Technical Analysis","GBP\/JPY","GBPJPY","Market Anticipation","Market Expectation","Price Action","Price Analysis","Price Chart","Technical Analysis"],"articleBody":"Market Analysis – Price Encounters a Pause GBPJPY manifested a significant shift in market sentiment in mid-January 2024, moving from a bearish trend to a bullish trend. Following this market trend shift, the GBPJPY continued its upward trajectory, consistently setting new highs and ultimately overcoming the significant 196.00 resistance level.GBPJPY Significant ZonesResistance Levels: 196.000, 202.000Support Levels: 190.320, 186.000Following the price momentum shift which occurred in January 2024, the price created steady highs lasting from January 2024 through to mid-March 2024 where the price encountered a consolidation phase above the 190.320 level. This consolidation acted as a springboard for prices to break structure, rapidly increasing bullish momentum and breaching the 196.000 resistance level.After experiencing a sharp decline, the price still manages to stay above the 196.000 level showing an unyielding bullish stance. The daily Moving Average suggests a bullish trend with the price trading above its mark. However, the daily Relative Strength Index shows the price in the overbought region at 70.0, signaling a possible retracement. The 4-hour timeframe also supports a pullback as the necessary liquidity for bullish momentum is located below the 196.000 level near the daily order block.Market ExpectationThe anticipated retracement is expected to sweep liquidity below the 196.000 level and trigger the order block. Additionally, this leads to a strong bullish momentum that could help the price surpass the 202.000 resistance level.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"}