{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-hovers-at-the-overbought-region-and-may-fall-soon\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-hovers-at-the-overbought-region-and-may-fall-soon\/","headline":"GBPJPY Hovers at the Overbought Region and May Fall Soon","name":"GBPJPY Hovers at the Overbought Region and May Fall Soon","description":"Market Analysis \u2013 GBPJPY to Fall From the Overbought Region Soon GBPJPY overbought region\u2019s adventure may come to an end soon. The market has generally been marching on in its bullish momentum which commenced on the 20th of December 2020. On its bullish movement, the market is seen to retrace briefly at intervals before moving […]","datePublished":"2021-06-09","dateModified":"2021-06-09","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\/2021\/06\/GBPJPY-1Day-1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/06\/GBPJPY-1Day-1.png","height":617,"width":1274},"url":"https:\/\/forexschoolonline.com\/gbpjpy-hovers-at-the-overbought-region-and-may-fall-soon\/","about":["Article","Article-com","charts","Forex Strategies","FX Technical Analysis","GBP\/JPY","Price Action Charts in Focus","Price Action Trigger Signals","Support & Resistance","Trade Setups"],"wordCount":346,"keywords":["GBPJPY","Market Anticipation","Price Chart","Technical Analysis"],"articleBody":"Market Analysis \u2013 GBPJPY to Fall From the Overbought Region SoonGBPJPY overbought region\u2019s adventure may come to an end soon. The market has generally been marching on in its bullish momentum which commenced on the 20th of December 2020. On its bullish movement, the market is seen to retrace briefly at intervals before moving on. This can be seen in bearish candlesticks with long wicks on the 4th and 18th of January. Subsequently, the market went on a long trail of bullish movement without a major retracement from the 22nd of January to the 24th of February 2021. During this period, GBPJPY remained in the overbought region all through. The price eventually fell from the overbought region on the 26th of February 2021, then it fell further on the 24th of March 2021. GBPJPY also touched down to the oversold region on the 15th and 22nd of April 2021.GBPJPY is on another bullish foray which started on the 23rd of April. The price has been in the oversold region. However, on the 1st of June, there was a brief retracement, the same as yesterday. The price is now expected to make another major fall.The 9MA (Moving Average) is currently above the daily candlesticks for the past three days, which is a sign of retracement. The Stochastic Oscillator gives a clear representation of market movement, its signal line is at mid-level and has crossed looking upwards to reflect the market retracement.GBPJPY Key ZonesResistance Zones: 158.000, 156.000Support Zones: 153.500, 149.400What to Expect From GBPJPYOn the 4-hour chart, a big bearish candle can be seen. It has followed a big bullish candle from yesterday. The stochastic oscillator is showing a sharp turn from the overbought region, about crossing each other to go lower. The 9MA is already showing a general descent. GBPJPY should fall to 153.500 support but could persist in the overbought region and jump to 158.000 key level. 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 responsible for your investing results."}