{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-puts-pressure-on-the-weekly-supply-level\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-puts-pressure-on-the-weekly-supply-level\/","headline":"GBPJPY Puts Pressure on the Weekly Supply Level","name":"GBPJPY Puts Pressure on the Weekly Supply Level","description":"GBPJPY Analysis – Price Puts Pressure on the 158.060 Supply Level GBPJPY puts pressure on the supply resistance level at the 158.060 price level. After getting a foothold on 153.280, the price bounced upward towards the weekly supply on an uptrend line. The market easily bypassed the intermediate level at 156.030 as GBPJPY puts its […]","datePublished":"2022-02-23","dateModified":"2022-02-23","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-3.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/02\/GBPJPY-1Day-3.png","height":573,"width":1194},"url":"https:\/\/forexschoolonline.com\/gbpjpy-puts-pressure-on-the-weekly-supply-level\/","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":319,"keywords":["Daily Chart","forex price action","FX Technical Analysis","GBPJPY","Market Anticipation"],"articleBody":"GBPJPY Analysis – Price Puts Pressure on the 158.060 Supply LevelGBPJPY puts pressure on the supply resistance level at the 158.060 price level. After getting a foothold on 153.280, the price bounced upward towards the weekly supply on an uptrend line. The market easily bypassed the intermediate level at 156.030 as GBPJPY puts its energy into its upward movement. However, at the 158.060 price level, the market has been rebuffed as usual, but bulls aren’t backing down yet.GBPJPY Key LevelsSupply Levels: 160.040, 158.060Demand Levels: 156.030, 153.280The 153.280 price line has always represented a critical level. It always remained obstinate when acting as a supply level. However, pressure from market purchasers broke through it, converting it to a mid-line price level. GBPJPY eventually converted the price line to a demand level as the price bounced off and broke through to the higher weekly supply level at 158.060.The price is driving up an uptrend line, by which the market puts pressure on the supply level of 158.060. The market is now undulating between 156.030 and the weekly resistance level. The Moving Average period 20 also provides vital support to keep the market floating atop the trend line. The Moving Average Convergence Divergence has its lines above zero to show continued bullishness.Market AnticipationThe 4-hour chart shows that market forces support the price as it puts pressure on the weekly resistance. The price maintains a hold above 156.030, and the trend line is there to push it back up when it drops below. The MACD indicator shows that a temporary drop has plunged the signal lines below the zero level, but support from the trend line has caused an upward cross of the lines from a bearish level. The price will aim for 160.040 when it breaks the supply.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."}