{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-bears-keep-threatening-to-plunder-the-market\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-bears-keep-threatening-to-plunder-the-market\/","headline":"GBPJPY Bears Keep Threatening to Plunder the Market","name":"GBPJPY Bears Keep Threatening to Plunder the Market","description":"GBPJPY Analysis – Bears Keep Threatening to Pull Down the Price Level GBPJPY bears keep threatening to plunder the market and bring down price levels below the anchor support level. The bears were seen to keep crashing the market against the 159.680 support level. The strongest market dip happened on the 26th of April after […]","datePublished":"2022-05-19","dateModified":"2022-05-19","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\/2022\/05\/GBPJPY-1Day-2.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/05\/GBPJPY-1Day-2.png","height":742,"width":1801},"url":"https:\/\/forexschoolonline.com\/gbpjpy-bears-keep-threatening-to-plunder-the-market\/","about":["Article","Article-com","charts","Featured Articles","FX Technical Analysis","GBP\/JPY","Price Action Charts in Focus","Support & Resistance","Survey","Trade Idea","Trade Setups"],"wordCount":309,"keywords":["Daily Chart","FX Technical Analysis","GBPJPY","Market Anticipation","Price Action"],"articleBody":"GBPJPY Analysis – Bears Keep Threatening to Pull Down the Price LevelGBPJPY bears keep threatening to plunder the market and bring down price levels below the anchor support level. The bears were seen to keep crashing the market against the 159.680 support level. The strongest market dip happened on the 26th of April after the price rose to 167.810. Though the currency pair received support at the 159.680 price level, it had weakened and eventually gave way to more drops.GBPJPY Key LevelsResistance Levels: 167.810, 161.650Support Levels: 158.060, 156.030 The bears have been trying to fill up an imbalance in the market created by an upsurge in price from the 151.000 support level on the 8th of March 2022. This upsurge cleared several significant levels, including the strong 159.680 – 158.060 significant levels. Shortly after, the bears began threatening to derail the market. They succeeded in limiting the uptrend in the market.After keeping the price at bay for a while, the bears have eventually plunged it below the 159.680 support level. There is, however, a remarkable recovery for the market as it recovers from the 156.030 key level with a surge, breaking through the 159.680 – 158.060 anchor zone. However, the price gets rejected at 161.650 and drops back into the anchor zone.Market ExpectationsThe 4-hour chart shows that the alternating blows by the bulls and bears on the market have forged it into a triangle around the anchor zone. The Parabolic SAR (Stop and Reverse) shows alternating dots around the 4-hour candles. The EFI (Elders Force Index) line fluctuates around the zero level but is currently at a negative value. The market is predisposed to breakout in either direction, but the anchor support could sway the market upward to 165.780.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 responsible for your investing results."}