{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-remains-bullish-as-pending-buy-orders-loom-at-a-discount\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-remains-bullish-as-pending-buy-orders-loom-at-a-discount\/","headline":"GBPJPY Remains Bullish as Pending Buy Orders Loom at a Discount","name":"GBPJPY Remains Bullish as Pending Buy Orders Loom at a Discount","description":"GBPJPY Analysis: The market remains bullish as pending buy orders loom at a discount GBPJPY remains bullish as pending buy orders loom at a discount. The overall market order flow is bullish. Recently, the market sank into a discount zone to execute buy orders, which got the market to its current local high of 172.130. […]","datePublished":"2022-12-15","dateModified":"2022-12-15","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\/12\/j.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/12\/j.jpg","height":627,"width":1194},"url":"https:\/\/forexschoolonline.com\/gbpjpy-remains-bullish-as-pending-buy-orders-loom-at-a-discount\/","about":["charts","Featured Articles","FX Technical Analysis","GBPJPY","Price Action Charts in Focus","Trade Idea","Trade Setups"],"wordCount":325,"keywords":["Daily Chart","forex price action","FX Technical Analysis","GBP\/JPY","GBPJPY","Market Anticipation","Market Expectation","Price Action","Price Analysis","Price Chart","Technical Analysis","Trade idea","Trade Setup"],"articleBody":"GBPJPY Analysis: The market remains bullish as pending buy orders loom at a discountGBPJPY remains bullish as pending buy orders loom at a discount. The overall market order flow is bullish. Recently, the market sank into a discount zone to execute buy orders, which got the market to its current local high of 172.130.GBPJPY Significant ZonesDemand Zones: 163.030, 148.630Supply Zones: 175.020, 172.130A bullish order block was formed on March 18, 2022, as the price was delivered to the upside. This bullish order block later propelled the price to the upside on May 13, 2022. The swing high created during this period was invalidated as prices sought external liquidity to keep expanding upward. On September 23, 2022, GBPJPY entered the oversold region for the first time in the year to grab sell-side liquidity. From the oversold region, the price expanded upward to invalidate the previous high and eventually create a new high at the 172.130 price level.The current trading range of the GBPJPY is defined by the 159.720 and the 172.130 price levels. At the discount array of the trading range, two bullish order blocks sit at the 61.80% and 78.60% Fibonacci retracement levels. The daily bullish order block at the 78.60% Fibonacci retracement level was formed on October 12, 2022. The refined daily bullish order block at the 61.80% Fibonacci retracement level was formed on December 2, 2022. Once the pending buy orders at either of the discount arrays are executed, the buy-side liquidity at the equal high (EQH) is most likely going to further expedite the continuation of the market’s uptrend.Market ExpectationGBPJPY is currently trading within an ascending trendline and a horizontal line across the previous highs on the four-hour chart. Price is expected to rise higher if the four-hour bullish order block at 61.80% or the daily bullish order block at 78.60% retracement 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."}