Weekly Forex Review (Jan 15 - 19) : EURUSD and GBPJPY

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Welcome to today's weekly forex forecast. I will take you through how I plan to trade the EURUSD and GBPJPY for the week ending 19 January 2024.


Watch the video below and scroll down for the annotated charts and analysis:


EURUSD

The price has been ranging since the false break event was confirmed at the beginning of the year.
As long as 1.100 holds as resistance, I will remain cautiously bearish targeting a move towards the 1.0800 region, the next key support area.












GBPJPY

Price action is bullish following the breakout event on Wednesday 10 January.
I anticipate the breakout area of 184 to act as a role reversal level i.e. new support for the PA to be convincingly bullish.

Given the overall trend is still ranging, I will approach this setup very cautiously.






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