{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-trends-bearish\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-trends-bearish\/","headline":"GBPJPY Trends Bearish","name":"GBPJPY Trends Bearish","description":"Market Analysis: GBPJPY Experiences Trend Reversals Major Bullish Trendline is Breached GBPJPY since the start of 2024, exhibited a strong bullish trend, with sustained upward momentum propelling prices higher for several months. This rally culminated in a significant peak in early July. However, the pair experienced a sharp bearish reversal following this high, signaling a […]","datePublished":"2024-12-16","dateModified":"2024-12-16","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\/2024\/12\/GBPJPY-1DAY-1-1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/12\/GBPJPY-1DAY-1-1.png","height":585,"width":1195},"url":"https:\/\/forexschoolonline.com\/gbpjpy-trends-bearish\/","about":["Article","Article-com","charts","Featured Articles","Forex","FX Technical Analysis","GBP\/JPY","GBPJPY","Price Action Charts in Focus","Support & Resistance","Technical Analysis","Trade Idea","Trade Setups","Trading"],"wordCount":323,"keywords":["Daily Chart","Forex","forex price action","FX Technical Analysis","GBPJPY","Market Expectation","Price Action","Price Analysis","Price Chart","Technical Analysis","Trade Setup","trading"],"articleBody":"Market Analysis: GBPJPY Experiences Trend Reversals Major Bullish Trendline is BreachedGBPJPY since the start of 2024, exhibited a strong bullish trend, with sustained upward momentum propelling prices higher for several months. This rally culminated in a significant peak in early July. However, the pair experienced a sharp bearish reversal following this high, signaling a notable shift in market sentiment. The subsequent bearish momentum breached the long-established bullish trendline, marking a critical change in the overall trend direction.GBPJPY Significant ZonesResistance Levels: 198.490, 188.760Support Levels: 180.430, 171.500After the bearish breakout, the initial leg of the decline found support at the 180.430 level. This support prompted a modest price recovery, leading to a retest of the previously breached bullish trendline. This retest confirmed the structural shift, paving the way for continued bearish movements.GBPJPY retested the bearish trendline again, further validating the downtrend as the price continued to decline. Despite this bearish momentum, the daily Relative Strength Index (RSI) indicates rising momentum, suggesting a temporary bullish retracement. However, this retracement is seen as a corrective move within the broader bearish framework.On the 4-hour timeframe, price action offers additional insights. The pair is advancing toward a Fair Value Gap (FVG), aligning with the observed bullish retracement on the daily chart. This localized bullish push is considered part of the corrective phase rather than a reversal of the broader trend.Market ExpectationThe ongoing bullish retracement is expected to face strong resistance near the 198.490 level, which is unlikely to be breached. Beyond this point, the broader bearish trend is anticipated to resume. A decisive break below the 180.760 support level would confirm the continuation of the downtrend, potentially paving the way for further declines. Traders monitoring forex and forex signals may find opportunities aligned with this bearish outlook.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 for your investing results."}