{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-consolidates-at-a-premium-as-bullish-sentiment-prevails\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-consolidates-at-a-premium-as-bullish-sentiment-prevails\/","headline":"GBPJPY Consolidates at a Premium as Bullish Sentiment Prevails","name":"GBPJPY Consolidates at a Premium as Bullish Sentiment Prevails","description":"GBPJPY Analysis: Price Consolidates at Premium, Bulls Remain Optimistic GBPJPY consolidates at a premium as the bulls remain optimistic. After a protracted period of markup against the sellers of GBPJPY, the market appears to be reaccumulating. However, the market’s overall trend continues to be bullish, and there doesn’t seem to be any indication that it […]","datePublished":"2023-09-15","dateModified":"2023-09-23","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\/09\/aXe5MPPs.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/09\/aXe5MPPs.png","height":738,"width":1195},"url":"https:\/\/forexschoolonline.com\/gbpjpy-consolidates-at-a-premium-as-bullish-sentiment-prevails\/","about":["FX Technical Analysis","GBP\/JPY","GBPJPY","Price Action Charts in Focus","Trade Idea","Trade Setups"],"wordCount":325,"keywords":["Daily Chart","forex price action","FX Technical Analysis","GBP","GBP\/JPY","GBPJPY","JPY","Market Anticipation","Market Expectation","Market Prospect","Price Action","Price Analysis","Price Chart","Technical Analysis","Trade idea","Trade Setup"],"articleBody":"GBPJPY Analysis: Price Consolidates at Premium, Bulls Remain OptimisticGBPJPY consolidates at a premium as the bulls remain optimistic. After a protracted period of markup against the sellers of GBPJPY, the market appears to be reaccumulating. However, the market’s overall trend continues to be bullish, and there doesn’t seem to be any indication that it will reverse. Once the consolidation phase is over, the uptrend is probably going to keep going.GBPJPY Significant ZonesDemand Zones: 172.130, 155.350Supply Zones: 184.010, 195.880The bulls flooded the market following the trend reversal in January 2023, which led to an upward shift in market structure. The bears were scared out of the market after failing to drive prices lower than the 155.350 key low. As GBPJPY raced higher to invalidate the 161.210 swing high, the market structure changed. Before strongly recovering to make a new high at 166.000, the price once again tapped deeply into the discount zone. A small resistance was encountered at the psychological level of 166.000 as the first quarter of the year came to an end.A significant decrease in the discount of the market’s trading range was caused by the small resistance. The further bearish movement was eventually restrained, nevertheless, by the bullish order block at the discount of the market’s trading range. As a result of the newly formed, vigorous rise, the market returned to its bullish trend. At the 184.010 resistance level, the bulls experienced a major setback. As long as GBPJPY resists the selling pressure from the 184.010 level, the uptrend is expected to continue.Market ExpectationAfter the diagonal support was reached, the four-hour chart of GBPJPY finally turned bullish. As long as the price remains above the 186.760 high, an upward expansion is anticipated to continue given the market’s overall optimistic tendency.Note:\u00a0Forexschoolonline.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."}