GBPJPY Is About to Test Its Previous Resistance Zone

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


GBPJPY Price Analysis – January 7

GBPJPY is about to test the previous year’s quarterly high. The market profile has been trending. A resistance zone was formed in October of the previous year. It was formed at 158.000. The market price dropped with the formation of lower highs and lows. A short-term consolidation was formed between the resistance zone of 154.00 and the 152.50 support zone.


GBPJPY Major Market Zones

Resistance zone: 158.00, 154.50, 151.00
Supply Zones: 156.20, 152.50, 149.50

GBPJPY Is About to Test Its Previous Resistance ZoneGBPJPY Long Term Trend: Bullish

The market eventually dipped into the 149.50 support zone at the beginning of the previous month. The middle band of the Bollinger band rested above the candles all through November. Throughout December, the market fluctuated. The bulls propelled the price beyond each resistance zone. The 151.00 and 154.50 zones were breached with the upthrust in price.

The moving average of the Bollinger band on the daily time frame switched positions. Since the 22nd of December, it has rested beneath the bullish trend. The market was faced with very little opposition, with four bearish candles in the uptrend. The bearish candles were relatively smaller than the bullish candles.

GBPJPY Is About to Test Its Previous Resistance ZoneGBPJPY Long Term Trend: Bullish

The market has retraced to test the previous support zone at 156.20. The middle band is also enhancing bullishness in the market. The previous zone currently draws the market price. The market is about to test the previous resistance zone at 158.00. The Williams Percent Range is still bullish. This encourages the bulls to attack the zone as soon as possible.

You can purchase crypto coins here: Buy coins

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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 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.

Leave a Reply

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