GBPJPY Buy Traders Set Market Order at 159.400 Significant Level

Updated:

GBPJPY Price Analysis – April 1

GBPJPY buy traders set the market order at the 159.400 significant level as the bulls’ trend is set to continue. The buyers are setting price order flow around the 159.400 significant level to stimulate bullish order sequences in the market. Since the bulls are currently considered the major contenders in the price action, GBPJPY will seek to push further in the market as the momentum in the price continues. Therefore, the market expectation is for a rebound set at 159.400. Following that, the market will remain bullish for a short period as more orders are broken.


GBPJPY Market Levels:

Resistance Levels: 159.400, 155.480
Support Levels: 1150.950, 148.840

GBPJPY Buy Traders Set Market Order at 159.400 Significant LevelGBPJPY Long Term Trend: Bullish

Bullish traders anticipate price action shortly after the bearish deadlock at the significant level of 150.950. The price, therefore, experiences a bullish flow in the market. The bullish trend continued even after the price broke through the 155.480 significant level in the market. However, the sell traders reacted to the significant line after breaking through it. However, the wave continued till the price arrived at 159.400, where more pending orders were seen. The buyers took the price above this level. Shortly after, the sell traders dropped the price tendency back to this level.

The bulls are currently picking up price order flow as the market is rebounding from the 159.400 key level. The price has caused a reaction in the upper band of the Bollinger indicator. Therefore, the price is stimulated to continue its uptrend due to market reaction at the 159.400 key level. The signal line of the MACD (Moving Average Convergence and Divergence) indicator still gives a bullish confirmation on the daily chart. The buy traders are therefore set on a run as the momentum in the price continues.

GBPJPY Buy Traders Set Market Order at 159.400 Significant LevelGBPJPY Short Term Trend: Bullish

The market on the 4-hour chart of GBPJPY is termed bullish due to price consistency in pushing forward. The price continues to create higher highs and higher lows in the market. As the bullish run continues below the 159.400 key level, the bulls seem prepared to take price orders.

How To Buy Lucky Block 

Note: Learn2.trade 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.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.