{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-finally-breaks-the-183-870-resistance-as-sellers-exit-the-market\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-finally-breaks-the-183-870-resistance-as-sellers-exit-the-market\/","headline":"GBPJPY Finally Breaks the 183.870 Resistance As Sellers Exit the Market","name":"GBPJPY Finally Breaks the 183.870 Resistance As Sellers Exit the Market","description":"GBPJPY Analysis: Price Finally Breaks the 183.870 Resistance As Sellers Exit The Market GBPJPY finally breaks the 183.870 resistance as the sellers fail to drive the market lower. Owing to the immediate retraction after the price hit the 183.870 resistance, the market sank lower. However, the bears were only able to push the market towards […]","datePublished":"2023-08-19","dateModified":"2023-08-19","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\/08\/GpXP405O.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/08\/GpXP405O.png","height":738,"width":1195},"url":"https:\/\/forexschoolonline.com\/gbpjpy-finally-breaks-the-183-870-resistance-as-sellers-exit-the-market\/","about":["Article","Forex Trading Tools","FX Technical Analysis","GBP\/JPY","GBPJPY","Price Action Charts in Focus","Trade Idea","Trade Setups"],"wordCount":289,"keywords":["Daily Chart","Forex","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","trading"],"articleBody":"GBPJPY Analysis: Price Finally Breaks the 183.870 Resistance As Sellers Exit The MarketGBPJPY finally breaks the 183.870 resistance as the sellers fail to drive the market lower. Owing to the immediate retraction after the price hit the 183.870 resistance, the market sank lower. However, the bears were only able to push the market towards the 176.000 psychological level. At 176.310, GBPJPY resumed its uptrend due to the sellers’ failure to drive the price lower.GBPJPY Significant ZonesDemand Zones: 168.430, 148.630Supply Zones: 183.870, 195.880During the exuberant ascent from late September to October 2022, a bullish order block formed around the 156.000 psychological level. At the return of GBPJPY from 168.430, the bullish order block was considered a POI (Point Of Interest) by the bulls. Coincidentally, the market flipped bullish as the year 2023 also began. GBPJPY has since been in a bullish trend despite the selling pressure at major resistance levels.Following the invalidation of a diagonal resistance in March, GBPJPY expanded upward, forming a bullish order block at 168.430. The bullish order block, after a few days, supported the upward expansion until the price hit the 183.870 resistance. From the 183.870 resistance, GBPJPY retraced downward into an FVG (Fair Value Gap) at 176.00. According to the MACD (Moving Average Convergence Divergence), the overall trend of the market is bullish.Market ExpectationAfter a liquidity raid on the discount zone, the price expanded upward to break the diagonal resistance. Following the breakout, the price retraced into a four-hour POI before resuming the market’s upward trend. GBPJPY is expected to keep expanding upward until the price enters the 195.880 supply zone. 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."}