{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-maintains-bullish-order-block-in-market-movement\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-maintains-bullish-order-block-in-market-movement\/","headline":"GBPJPY Maintains Bullish Order Block in Market Movement","name":"GBPJPY Maintains Bullish Order Block in Market Movement","description":"GBPJPY Analysis: GBPJPY Maintains Respect for Bearish Trendline Anchored on Previous Year’s Highs GBPJPY\u00a0 maintains respect for the bearish trendline anchored on November and December’s highs last year. The same resistance trendline engineered the downward motion in this current month of March. The market has reached a bullish order block, which has the potential to […]","datePublished":"2023-04-06","dateModified":"2023-04-06","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\/04\/LeSTaGJm.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/04\/LeSTaGJm.png","height":674,"width":1336},"url":"https:\/\/forexschoolonline.com\/gbpjpy-maintains-bullish-order-block-in-market-movement\/","about":["Article","charts","FX Technical Analysis","GBP\/JPY","GBPJPY","Price Action Charts in Focus","Trade Idea","Trade Setups"],"wordCount":231,"keywords":["Daily Chart","Forex","forex price action","FX Technical Analysis","GBP","GBPJPY","JPY","Market Anticipation","Market Expectation","Price Action","Price Analysis","Technical Analysis"],"articleBody":"GBPJPY Analysis: GBPJPY Maintains Respect for Bearish Trendline Anchored on Previous Year’s HighsGBPJPY\u00a0 maintains respect for the bearish trendline anchored on November and December’s highs last year. The same resistance trendline engineered the downward motion in this current month of March. The market has reached a bullish order block, which has the potential to foster a bullish reversal.GBPJPY Key ZonesDemand Zones: 158.0, 156.0, 153.0Supply Zones: 164.0, 168.0, 172.0The market dived into a demand level of 153.0 in September. The Stochastic and the RSI (Relative Strength Index) indicated the market was oversold. The market corrected immediately as the daily candles pushed above the Moving Averages (periods nine and twenty-one) immediately. The upthrust in September fostered the ascent in the market.The Bearish trend became obvious with the breakout witnessed on the 20th of December, 2022. The market consolidated in January before rising to the resistance trendline on the daily chart. The ascending parallel channel guided the market to retest the bearish trendline.Market ExpectationA breakout is looming on the daily chart as the parallel channel lines have crossed the bearish trendline to narrow down to a point. The market direction would be obvious on whichever side the daily candles spilled.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."}