{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-establishes-bullish-stance-with-a-significant-change\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-establishes-bullish-stance-with-a-significant-change\/","headline":"GBPJPY Establishes Bullish Stance with a Significant Change","name":"GBPJPY Establishes Bullish Stance with a Significant Change","description":"GBPJPY Analysis: Market Establishes Bullish Stance GBPJPY establishes a bullish stance with a major change of character ( ChoCh) on the 24-hour chart. The long-term bullish trend witnessed a significant pullback after the Williams Percent Range signified the exhaustion of the buyers. The current shift in market structure seems to be a resumption of the […]","datePublished":"2023-10-16","dateModified":"2023-10-16","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\/d3bYD27t.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/10\/d3bYD27t.png","height":807,"width":1622},"url":"https:\/\/forexschoolonline.com\/gbpjpy-establishes-bullish-stance-with-a-significant-change\/","about":["Article","Forex Trading Tools","FX Technical Analysis","GBP\/JPY","GBPJPY","Price Action Charts in Focus","Trade Idea","Trade Setups"],"wordCount":247,"keywords":["Daily Chart","Forex","forex price action","GBP","GBP\/JPY","GBPJPY","JPY","Market Anticipation","Market Expectation","Market Prospect","Price Action","Price Analysis","Price Chart","Technical Analysis"],"articleBody":"GBPJPY Analysis: Market Establishes Bullish StanceGBPJPY establishes a bullish stance with a major change of character ( ChoCh) on the 24-hour chart. The long-term bullish trend witnessed a significant pullback after the Williams Percent Range signified the exhaustion of the buyers. The current shift in market structure seems to be a resumption of the uptrend.GBPJPY Key Levels:Demand Levels: 181.040, 176.300Supply Levels: 184.400, 186.800GBPJPY’s bullish stance is obvious with the aggressive upthrust in the price and the lethargic downward motion. The daily candles also suppressed the Moving Averages (periods 30 and 50) until September. A bullish trendline anchored on the bullish order block in June further reveals the uptrend.The price of GBPJPY rallied after the test of the bullish order-block (OB) deposit in June. The test of the OB was utilized to engineer efficient delivery of the price action. The Fair Value Gaps (FVG’s) were covered up immediately. Eight consecutive days of up-close candles followed to strike the supply zone of 186.80Market ExpectationThe current retracement seems to have come to a halt with the recent price action. A bullish market structure has emerged from the test of the trendline. The price has surged above the previous swing high on the bearish retracement for a bullish reversal. The price is currently running towards the resistance level of 184.40.Note:\u00a0Forexschoolonline.com is not a financial advisor. Research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}