• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

ForexSchoolOnline.com

Learn to Trade Forex Online

  • Compare Brokers
    • Broker Type
      • Paypal Brokers
      • Swap-Free Brokers
      • Low Spread Brokers
      • ECN / STP Brokers
      • Market Maker Brokers
      • Non Dealing Desk Brokers
      • Low Minimum Deposit Brokers
    • Country
      • Brokers for Australia
      • Brokers for South Africa
      • Brokers for the UK
      • Brokers for the US
      • Brokers for Nigeria
    • Regulation
      • FCA Regulated Brokers
      • ASIC Regulated Brokers
      • FSCA Regulated Brokers
      • CFTC Regulated Brokers
    • Platform
      • MT4 Brokers
      • MT5 Forex Brokers
    • Strategies
      • Hedging Forex Brokers
      • Scalping Forex Brokers
      • Carry Trade Forex Brokers
      • Brokers for Indicators and EA’s
  • Start Here
    • Start Trading Guide
    • Beginner Trading Lessons
  • Free Forex Course
    • Public Login
    • Register
    • Password recovery
  • Lessons
    • Strategies
    • Videos
    • MT4 Guides
    • Money Management
  • Trade Setups
  • Tools
    • Correct Free Demo Charts
    • Forex Journal Download
    • Position Size Calculator
    • FULL List of Tools
    • Forex Demo Accounts
  • Price Action Guide
  • Free Course

GBPJPY Buyers Advance Higher

Johnathon Fox
03/23/2024 | UPDATED ON: 03/23/2024

Market Analysis – GBPJPY Experiences Strong Bullish Momentum

GBPJPY buyers advance higher. The bulls have successfully defeated strong key levels, extending their reach to new highs that haven’t been seen in recent months. Despite a minor pullback earlier this month from the 191.200 significant level to the 187.900 significant level, the buyers have managed to regain their strength, and the bullish momentum has become even stronger than before. 

GBPJPY Market Level

Resistance Levels: 193.000, 191.000
Support Levels; 187.000 185.200

GBPJPY Buyers Advance Higher

After the pullback from the 191.200 significant level, the buyers were able to reestablish their strength and push the price higher. The bullish momentum has been increasing steadily, indicating the buyers’ confidence in their position. The buy traders will likely penetrate the key level of 193.600 shortly. With the increasing bullish momentum, we could see the price trade reach new highs, potentially reaching the crucial level of 196.000. The stronger the momentum becomes, the easier it will be for traders to challenge further in the market.

The Parabolic SAR indicator has exited the sell trend and is now focused on the bullish strength. This indicates a shift in momentum from bearish to bullish, further supporting the idea of continued upward movement in the market. The MACD indicator, which measures the convergence and divergence of moving averages, is also fueling the bullish sentiment. The increasing values on the MACD histogram suggest that the buyers are in control and that the momentum is favoring further upward movement.

GBPJPY Buyers Advance Higher

Market Expectation 

In the short term, the buyers continue to maintain their strong momentum and are expected to break through the 193.600 key level in no time. The bullish market, therefore, appears to be very strong in the short term, and there is a high likelihood of a price breakout shortly.

Note: Forexschoolonline.com is not a financial advisor. Research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

About Johnathon Fox

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.

View all posts by Johnathon Fox →
Previous Post: « Bitcoin (BTCUSD) Price May Breakup the $73709.99 Supply Mark Soon
Next Post: USDCHF Continues Its Bullish Surge »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Forex School Online

High Probability Price Action Trading

How to make, manage and take profit from trades in the markets

Start Learning (It's Free!)

Turn Your Trades into Winners!

The Price action course is the in-depth advanced training on assessing, making and managing high probability price action trades.

Sign up for Free!

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

Footer

Get Our FREE Course, Bonus Strategies & Indicators!
X
Join Us Now!

Your capital is at risk.

X

CORNERSTONE LESSONS

Forex Trading for Beginners

Price Action Trading

How to Trade Forex

Technical Analysis

Forex Charts

Forex Trading Strategies

Money Management 

Compare Brokers

Best Forex Brokers

Forex Demo Accounts

Best Forex Trading Platforms

Forex Apps

Swap Fee Accounts

MT4 Brokers

CATEGORIES

Forex Videos

Trading Lessons

Weekly Trade Ideas

Start Here Guide

ForexSchoolOnline.com helps individual traders learn how to trade the Forex market

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs.

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.

We Introduce people to the world of currency trading. and provide educational content to help them learn how to become profitable traders. we're also a community of traders that support each other on our daily trading journey

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.

Copyright © Forex School Online Sitemap  - Privacy Policy - Disclaimers & Terms of Use - CONTACT US