Daily Trading Analysis 23.03.2022

Technical & Fundamental analysis

Trading Analysis of EUR/JPY The Bank of Japan (BOJ), as expected, decided to keep its policy unchanged at the monetary policy meeting (MPM) and lowered its forecast for the economy due to the impact of COVID-19 on March 18, 2022. Our Analysis: While the price is above 128.30, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 133.65 Take Profit 1: 134.10 Take Profit 2: 135.50 Alternative scenario: If the level 128.30 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 128.30 Take profit 1: 126.40 Take Profit 2: 124.30 Learn More Trading Analysis of GBP/JPY Japanese Prime Minister Kishida: we are likely to draw up a new stimulus program by the end of March. Our Analysis: As long as price is above 158.00 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 160.84 Take profit 1: 161.50 Take Profit 2: 163.50 Alternative scenario: If the level of 158.00 is broken-down, follow the recommendations below:          Time frame: D1 Recommendation: short position Entry point: 158.00 Take profit 1: 150.48 Take profit 2: 148.36 Learn More Fundamental Trading Analysis of Ethereum Don't get your hopes up just yet, but Ethereum is gaining momentum again. The world's second most valuable cryptocurrency rose above $3,000 on Tuesday, something it hasn't done in nearly three weeks. Our Analysis: As long as the price is above 2645.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 2958.64 Take Profit 1: 4037.00 Take Profit 2: 4867.00 Alternative scenario: If the level of 2645.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 2645.00 Take Profit 1: 2175.00 Take Profit 2: 1700.00 Learn More ‌ ‌ ‌ Risk Warning: Forex and CFD trading carry a high degree of risk. As such they may not be suitable for all investors. Investors should ensure they fully understand the risks associated with CFD trading before deciding to trade. Investors may choose to seek independent advice and should not risk more than they are prepared to lose.

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