{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-prepares-for-a-correction-as-the-final-wave-ends\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-prepares-for-a-correction-as-the-final-wave-ends\/","headline":"GBPJPY Prepares For A Correction As The Final Wave Ends","name":"GBPJPY Prepares For A Correction As The Final Wave Ends","description":"GBPJPY Analysis: The Market Prepares for a Correction as the Final Wave Ends GBPJPY prepares for a correction as the final wave ends. The Motive wave began at the 172.130 price level, from the supply zone. Since then, the market’s order flow has been bearish. However, GBPJPY seems to be in a tug of war […]","datePublished":"2023-01-20","dateModified":"2023-01-20","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\/01\/u.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/01\/u.jpg","height":627,"width":1194},"url":"https:\/\/forexschoolonline.com\/gbpjpy-prepares-for-a-correction-as-the-final-wave-ends\/","about":["Article","Featured Articles","FX Technical Analysis","GBP\/JPY","Price Action Charts in Focus","Trade Idea","Trade Setups"],"wordCount":328,"keywords":["Article","Daily Chart","Forex","forex price action","FX Technical Analysis","GBP","GBP\/JPY","GBPJPY","JPY","Market Anticipation","Market Expectation","NZDUSD","Price Action","Price Analysis","Technical Analysis"],"articleBody":"GBPJPY Analysis: The Market Prepares for a Correction as the Final Wave EndsGBPJPY prepares for a correction as the final wave ends. The Motive wave began at the 172.130 price level, from the supply zone. Since then, the market’s order flow has been bearish. However, GBPJPY seems to be in a tug of war as buyers are finding opportunities to buy at the 155.350 demand zone.GBPJPY Significant ZonesDemand Zones: 155.350, 148.630Supply Zones: 172.130, 162.330GBPJPY made a rapid rally out of an extremely discount zone by making a zig-zag correction wave. The correction wave began at the 148.630 price level to aid in the price’s rapid upward movement. At the end of the zig-zag correction wave, a new impulse wave began after the rejection in the 172.130 supply zone. However, before the correction wave, GBPJPY was fluctuating within the 169.00 and 159.00 price levels. This fluctuation lasted between January 1, 2022, and September 24, 2022.According to the Moving Average Convergence Divergence, the market is clearly in a downward trend. From the first impulse leg, the market’s environment changed to a bearish one. In the second wave, GBPJPY retraced into a bearish order block characterized by the last bullish candlesticks to hit the 172.130 price level. The third wave remains the longest impulse leg, which might also be the longest motive wave once the fifth wave ends. Due to the drastic decrease in momentum, the fifth wave might not extend far beyond the end of the third wave, which is marked by the 155.350 price level.Market ExpectationThe refined bearish order block has already been filled on the four-hour chart, and the price now heads down as the final wave prepares to end. GBPJPY is expected to begin a correction wave to the upside before or just after the 155.350 price level is reached.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. "}