{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-heads-upward-as-price-fails-to-break-157-220-support\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-heads-upward-as-price-fails-to-break-157-220-support\/","headline":"GBPJPY Heads Upward As Price Fails To Break 157.220 Support","name":"GBPJPY Heads Upward As Price Fails To Break 157.220 Support","description":"GBPJPY heads upward as the price fails to break 157.220 support. The 157.220 has been quite resistant to price movement for a long time.","datePublished":"2023-02-16","dateModified":"2023-02-16","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\/02\/t.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/02\/t.jpg","height":627,"width":1194},"url":"https:\/\/forexschoolonline.com\/gbpjpy-heads-upward-as-price-fails-to-break-157-220-support\/","about":["Article","Article-com","charts","Forex Strategies","Forex Trading Tools","FX Technical Analysis","GBP\/JPY","Price Action Charts in Focus","Trade Idea","Trade Setups"],"wordCount":332,"keywords":["Daily Chart","Forex","forex price action","FX Technical Analysis","GBP","GBPJPY","JPY","Market Anticipation","Market Expectation","Market Prospect","Price Action","Price Analysis","Price Chart","Technical Analysis","Trade idea","Trade Setup","trading"],"articleBody":"GBPJPY Analysis – Market Heads Upward As Price Fails To Break 157.220 SupportGBPJPY heads upward as the price fails to break 157.220 support. The 157.220 has been quite resistant to price movement for a long time. An influx of sell orders is needed to break the support for the bearish move to continue.GBPJPY Significant ZonesDemand Zones: 157.220, 148.630Supply Zones: 162.330, 172.130The market was in an upward trend up until the appearance of the most recent falling trendline in November 2022, which is now acting as a diagonal resistance against the upward flow of price. The GBPJPY sellers’ persistent attempt to change the market’s order flow, on the other hand, could be interpreted as price stability, with aggressive expansion to the downside at every correction wave. After successfully invalidating the diagonal resistance of price across June 2022 to September 2022 highs, the price headed downward to run through the sell-side liquidity below the relatively equal lows around the 160.000 price level.The correction phase continued even after invalidating the relatively equal lows, and the price dived further downward to invalidate the intermediate-term low at the 155.590 price level. At a single hit on the 148.630 demand zone, the price aggressively expanded upward as GBPJPY sellers took profits. As of now, the market is currently trading within the 172.130 and 148.630 price levels. The 157.220 support seems difficult to break as more GBPJPY sellers keep exiting the market. As the price finally leaves the discount zone, the MACD indicator shows that the GBPJPY is heading upward. A retest and breakout are imminent at the diagonal resistance if the 162.330 price level gets breached.Market ExpectationThe market’s order flow on the four-hour chart is bullish. After the buy orders were executed at the four-hour bullish order block, the GBPJPY bullish order flow is expected to continue until the diagonal resistance was retested.Note:\u00a0Forexschoolonline.com\u00a0is 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. "}