{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-breaks-above-symmetrical-triangle-formation\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-breaks-above-symmetrical-triangle-formation\/","headline":"GBPJPY Breaks Above Symmetrical Triangle Formation","name":"GBPJPY Breaks Above Symmetrical Triangle Formation","description":"Market Analysis: Price Pushes Above the Symmetrical Triangle GBPJPY pushes above the symmetrical triangle after finding support on the $181.0 demand level. The Bearish trendline anchored on 186.760 has prevented market ascent since September. GBPJPY buyers have managed to force through the resisting trendline to aim for higher prices. GBPJPY Key Levels: Demand Levels: 181.050, […]","datePublished":"2023-10-24","dateModified":"2023-10-30","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\/2023\/10\/HdGGWobm.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/10\/HdGGWobm.png","height":807,"width":1622},"url":"https:\/\/forexschoolonline.com\/gbpjpy-breaks-above-symmetrical-triangle-formation\/","about":["Article","charts","Forex Trading Tools","FX Technical Analysis","GBP\/JPY","GBPJPY","Price Action Charts in Focus","Technical Analysis","Trade Idea","Trade Setups"],"wordCount":203,"keywords":["Daily Chart","Forex","forex price action","FX Technical Analysis","GBP","GBP\/JPY","GBPJPY","Market Anticipation","Market Expectation","Market Prospect","Price Action","Price Analysis","Technical Analysis"],"articleBody":"Market Analysis: Price Pushes Above the Symmetrical TriangleGBPJPY pushes above the symmetrical triangle after finding support on the $181.0 demand level. The Bearish trendline anchored on 186.760 has prevented market ascent since September. GBPJPY buyers have managed to force through the resisting trendline to aim for higher prices.GBPJPY Key Levels:Demand Levels: 181.050, 176.300Supply Levels: 194.390, 186.760The appearance of a double top in late August at 186.760 signaled a major pullback in the market. The market has been trending since March. The Moving Averages supported the uptrend until September. Similarly, the test of the bullish trendline increased the price of GBPJPY.In October, the Stochastic revealed the exhaustion of the sellers, fostering the pullback. This occurred at the test of the bullish trendline supporting the price. The price reacted suddenly by breaking the previous lower high. Eventually, the price pushed through the bearish trendline.Market ExpectationThe push above the bearish trendline shows the current domination of the buyers. The price is expected to magnet to the liquidity region at 178.760 upon a successful retest of the trendline.Note:\u00a0Forexschoolonline.com is not a financial advisor. Research before investing your funds in any financial asset, presented product, or event. We are not responsible for your investment results."}