**Forex Weekly Forecast: Nov 18 – Nov 22, 2024**
In this week’s forecast, we analyze key currency pairs and their potential movements:
**USD/JPY**: The market tone is neutral to bearish. For the USD/JPY to show strength, it must break above **155.12**, targeting levels of **156.45 – 157.50**. A warning signal arises with a break below **153.30**, which could lead us down to the old high of **151.94** from October 21, 2022. Should this level break, expect a move towards **149.00**.
**GBP/USD**: The outlook remains bearish. A break above **1.2750** is needed to indicate any strength for the week. Conversely, if it breaks **1.2580**, we could see a decline towards **1.2385**, with a potential target of **1.2265**.
**EUR/USD**: The market tone is also bearish here. For strength, the pair needs to surpass **1.0758**, potentially reaching **1.0900**. However, a break at **1.0441** would lead us to the next support level at **1.0335**, with the prospect of heading towards parity if it breaks **1.3000**.
**GBP/JPY**: The bearish tone persists, with resistance at **195.60**. If this level is breached, we could see a rally towards **198.00**. Key support sits at **193.58**, and a break here could take us down to **192.00**.
**EUR/JPY**: The market outlook is bearish, with a critical warning at **161.84**. Breaking this level may lead to a drop to **159.50**. To show strength this week, it must break and hold above **163.55** to re-enter the upper range.
Stay tuned for more updates and insights as we navigate these market conditions!
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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00:00 Introduction
00:42 USD/JPY Analysis
10:29 GBPUSD Analysis
11:47 EUR/USD Analysis
13:14 GBP/JPY Analysis
14:48 EUR/JPY Analysis
1.23 factor
GREAT
great
nice update