Forex Forecast: Gbp/jpy, Usd/jpy & More! Support And Resistance Levels For Oct 14-18th

Forex Forecast: Gbp/jpy, Usd/jpy & More! Support And Resistance Levels For Oct 14-18th

📈 *Forex Weekly Analysis: Support & Resistance Points* 📉

Welcome back, traders! In this week's analysis, we dive into the USD/JPY, GBP/USD, GBP/JPY, and EUR/JPY currency pairs, breaking down key support and resistance levels along with the overall market structure.

🔍 *USD/JPY**: This pair shows a bullish tone for the week. A daily close above **149.20* could trigger a rally towards *149.85* and then **150.35**. Watch for a significant break of **150.35**, which may lead us to **151.60-151.90**. On the downside, support is found at **148.44**; a break below this could push the pair down to **147.87**.

📉 *GBP/USD**: Currently displaying a bearish tone, GBP/USD needs to rally and close above **1.3105* to counteract weakness. Solid resistance is at *1.3165**. Keep an eye on critical support at **1.2995**; a break below this level may lead to further declines towards **1.2847* and **1.2750**.

📊 *GBP/JPY**: For GBP/JPY, we need to see a move above **195.66* to confirm continued strength towards *196.04**. Resistance is located at **197.10**. A close above **195.10* should establish daily support around **194.35**.

💹 *EUR/JPY**: Lastly, EUR/JPY must close above **163.60* to show strength towards *164.30**. Key support levels are at **162.62* and **162.31**, with a break and close below these levels signaling a drop to **161.39**.

Join us as we analyze these levels in detail and discuss strategies for the upcoming week. Don’t forget to like, subscribe, and hit the notification bell for more insights!

#ForexAnalysis #Trading #MarketStructure #USDJPY #GBPUSD #GBPJPY #EURJPY #SupportAndResistance #ForexTrading

Introducing Tom Alongi, a seasoned expert in the world of foreign exchange trading, whose illustrious career spans over three decades. Tom served as the Chief Dealer at CRT Bank NY, where he honed his skills and expertise in managing complex currency trades. He later took on the role of Chief Cross Currency Forex Dealer at DG Bank in New York specializing in GBP/JPY and EUR/JPY(DEM/JPY), where his strategic insights and leadership were instrumental in navigating the fast-paced forex market. Most recently, Tom held the position of Chief Dealer at CRT Bank, overseeing a dynamic team of proprietary traders 30 traders in all, guiding them through the intricacies of cross-currency transactions. With a wealth of experience and a deep understanding of the global financial landscape, Tom is a respected figure in the Forex community, known for his exceptional leadership and market acumen.
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Disclaimer: My trades are for educational purposes only. Past performance does not guarantee future results. ⚠️
00:00 Introduction
00:28 USD/JPY Analysis
03:47 GBP/USD Analysis
06:14 CROSS extrapolation
08:12 GBP/JPY Analysis
13:08 Support And Resistance Lines
14:10 EUR/JPY Analysis