{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-is-attempting-to-break-out-above-158-060\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-is-attempting-to-break-out-above-158-060\/","headline":"GBPJPY Is Attempting to Break Out Above 158.060","name":"GBPJPY Is Attempting to Break Out Above 158.060","description":"GBPJPY Analysis \u2013 Price Is Attempting to Break Through the Resistance Level of 158.060 GBPJPY is attempting to break beyond a weekly resistance level at 158.060. The first step taken by the buyers is to hold above the 153.280 critical level. This has enabled a rally from this level back towards the 158.060 resistance level. […]","datePublished":"2022-02-16","dateModified":"2022-02-16","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\/2022\/02\/GBPJPY-1Day-2.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/02\/GBPJPY-1Day-2.png","height":747,"width":1801},"url":"https:\/\/forexschoolonline.com\/gbpjpy-is-attempting-to-break-out-above-158-060\/","about":["Article","Article-com","Case Study","charts","Featured Articles","FX Technical Analysis","GBP\/JPY","Price Action Charts in Focus","Support & Resistance","Survey","Trade Idea","Trade Setups"],"wordCount":311,"keywords":["Daily Chart","FX Technical Analysis","GBPJPY","Market Expectation","Price Action"],"articleBody":"GBPJPY Analysis \u2013 Price Is Attempting to Break Through the Resistance Level of 158.060GBPJPY is attempting to break beyond a weekly resistance level at 158.060. The first step taken by the buyers is to hold above the 153.280 critical level. This has enabled a rally from this level back towards the 158.060 resistance level. Price has been rejected once. GBPJPY pulled back to the uptrend line, from where it is now attempting to push against the resistance level again.GBPJPY Critical LevelResistance Levels: 160.040, 158.060Support Levels: 153.280, 149.500In the fight for market dominance, buyers are doing more by pushing upwards. At first, it was a bullish move that broke the 153.280 price line to expand the consolidation zone of the market. It can also be seen that there is more struggle when the price is dropping, especially at the same 153.280 critical level. Buyers have taken it a step further to prevail in the market, and that is by holding the market above the aforementioned fundamental level.Therefore, the market has sprung off towards 158.060, attempting to pressure it. An initial rejection has not deterred the market from more attempts. The RSI (Relative Strength Index) line is at 59, showing more bullish momentum in the market. Meanwhile, the MA cross (Moving Average) has crossed upward to confirm the market\u2019s intent to break out upwards.Market AnticipationThe 4-hour chart shows that the price has just recovered from a retracement with the help of the uptrend line. There is also an upward cross in this short term frame. And following that of the daily chart, the RSI indicator has its line risen above the zero level. When GBPJPY successfully breaks through the resistance, it will aim directly for 160.040.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."}