{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-continues-to-trend-bullish\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-continues-to-trend-bullish\/","headline":"GBPJPY Continues to Trend Bullish","name":"GBPJPY Continues to Trend Bullish","description":"Market Analysis: Price Trends Bullish as It Aims for 203.000 The GBPJPY currency pair has been exhibiting a pronounced bullish trend, steadily rising from the 186.500 support level. This upward trajectory has been characterized by the formation of successive higher highs and higher lows, underscoring the strength of the bullish momentum. In the latter part […]","datePublished":"2024-07-05","dateModified":"2024-07-05","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\/07\/GBPJPY-1DAY.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/07\/GBPJPY-1DAY.png","height":613,"width":1195},"url":"https:\/\/forexschoolonline.com\/gbpjpy-continues-to-trend-bullish\/","about":["Article","Article-com","charts","Featured Articles","Forex","FX Technical Analysis","GBPJPY","Price Action Charts in Focus","Support & Resistance","Technical Analysis","Trade Idea","Trade Setups"],"wordCount":268,"keywords":["Daily Chart","Forex","forex price action","FX Technical Analysis","GBPJPY","Market Expectation","Technical Analysis","Trade Setup"],"articleBody":"Market Analysis: Price Trends Bullish as It Aims for 203.000The GBPJPY currency pair has been exhibiting a pronounced bullish trend, steadily rising from the 186.500 support level. This upward trajectory has been characterized by the formation of successive higher highs and higher lows, underscoring the strength of the bullish momentum. In the latter part of April 2023, the pair experienced a significant bullish break of structure, signaling potential further appreciation.GBPJPY Significant ZonesResistance Levels: 197.880, 203.000Support Levels: 190.700, 186.500This break of structure was preceded by a retracement to an order block, setting the stage for the forthcoming surge in buying. The surge was so robust that it propelled the GBPJPY pair beyond the 197.880 threshold, marking a decisive breach. Following this breakout, the price retested the 197.880 level, confirming the market’s bullish inclination.Further reinforcing the bullish narrative is the pair’s unwavering adherence to the established bullish trend line. This support has been instrumental as the price gradually climbs toward the 203.000 milestone. Corroborating this bullish sentiment, the daily Moving Average aligns with the upward direction of the price, indicating the sustained nature of the bullish trend. Forex signals have highlighted this alignment as a key indicator of ongoing bullish momentum.Market ExpectationThe daily Relative Strength Index indicates that the price is hovering around the overbought region of 70.0, suggesting a potential decline in price. However, the level of 203.000 is expected to be breached first before any significant decline is anticipated.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."}