{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-continues-bullish-trend\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-continues-bullish-trend\/","headline":"GBPJPY Continues Bullish Trend","name":"GBPJPY Continues Bullish Trend","description":"Market Analysis: Price Shows Bullish Continuation as Retracement Concludes The GBPJPY currency pair has entered a new bullish phase following the end of a prolonged bearish trend. Initially, sellers dominated the market aggressively when the price fell from the 203.590 level, resulting in a break below the critical 188.740 support. However, as the price approached […]","datePublished":"2024-10-04","dateModified":"2024-10-04","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\/10\/GBPJPY-1Day.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/10\/GBPJPY-1Day.png","height":613,"width":1195},"url":"https:\/\/forexschoolonline.com\/gbpjpy-continues-bullish-trend\/","about":["Article","Article-com","charts","Featured Articles","Forex","FX Technical Analysis","GBPJPY","Price Action Charts in Focus","Support & Resistance","Technical Analysis","Trade Idea"],"wordCount":365,"keywords":["Daily Chart","Forex","forex price action","FX Technical Analysis","GBPJPY","Market Expectation","Price Action","Price Analysis","Price Chart","Technical Analysis","Trade idea","trading"],"articleBody":"Market Analysis: Price Shows Bullish Continuation as Retracement ConcludesThe GBPJPY currency pair has entered a new bullish phase following the end of a prolonged bearish trend. Initially, sellers dominated the market aggressively when the price fell from the 203.590 level, resulting in a break below the critical 188.740 support. However, as the price approached 179.210, strong buying pressure emerged, marking the turning point that established the current bullish trend.GBPJPY Significant ZonesResistance Levels: 196.300, 203.590Support Levels: 188.740, 179.210The upward momentum has been strengthened by a classic head and shoulders reversal pattern, widely recognized as a bullish signal, indicating a shift in market sentiment from bearish to bullish. On the 4-hour timeframe, the price is currently trending above the 188.740 level. After reaching this zone, a temporary bearish retracement occurred but was countered at the 196.300 resistance level.The retracement formed a double bottom pattern, a strong indicator of trend continuation. This pattern has signaled the likely resumption of the ongoing bullish trend, further confirmed by the breakout of the neckline area. Supporting this outlook, the daily Relative Strength Index (RSI) shows increasing bullish momentum, while the daily Moving Average (MA) aligns with this narrative as the price remains above the moving average line.Given these developments, price action points to a bullish continuation as long as the pair stays above the 188.740 support. The key resistance at 196.300 is expected to be the next target, and a decisive break above this level could pave the way for a further rally towards the 203.590 mark. The strength of the bullish momentum will determine whether the price can successfully surpass these levels, establishing a new upward trajectory.Market ExpectationThe key levels and patterns should be closely monitored, as the continuation of the bullish trend may present potential long opportunities, especially if the price breaches the 196.300 resistance. A sustained move above this area could attract more buyers, driving the price towards the 203.590 level, where the initial bearish trend began. As this momentum builds, forex signals may also play a role in guiding traders’ decisions.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\u00a0 for your investing results."}