Daily Trading Analysis 24.08.2022

Technical & Fundamental analysis

Trading Analysis of EUR/JPY The EUR/JPY continues to develop a bearish start to the week, although it managed to bounce from earlier lows in the area of 135.70. If the cross manages to break out of the ongoing consolidation, the August high of 138.39 (from August 10) is expected to be in focus again. Our Analysis: While the price is above 135.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 136.25 Take Profit 1: 138.00 Take Profit 2: 139.30 Alternative scenario: If the level 135.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 135.00 Take profit 1: 134.35 Take Profit 2: 133.35 Learn More Trading Analysis of GBP/JPY Bank of Japan, Momma: the central bank policy remains in force despite the CPI growth. Our Analysis: As long as the price is above 161.50 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 161.71 Take profit 1: 165.00 Take Profit 2: 167.00 Alternative scenario: If the level of 161.50 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 161.50 Take profit 1: 160.00 Take profit 2: 158.00 Learn More Fundamental Trading Analysis of Ethereum Ethereum was the first blockchain network to feature smart contracts - programs that are self-executing when two unrelated parties meet the necessary conditions for a transaction. Our Analysis: As long as the price is above 1500.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1643.00 Take Profit 1: 1960.00 Take Profit 2: 2340.00 Alternative scenario: If the level of 1500.00 is broken-down, follow the recommendations below:         Time frame: D1 Recommendation: short position Entry point: 1500.00 Take Profit 1: 1280.00 Take Profit 2: 990.00 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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