Daily Trading Analysis 05.10.2022

Technical & Fundamental analysis

Trading Analysis of EUR/JPY EUR/JPY remains well bid and trades in multi-session peaks above the 143.00 yardstick on Tuesday. The continuation of the rebound from last week’s lows remains well in place for the time being. Our Analysis: While the price is above 141.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 143.70 Take Profit 1: 145.65 Take Profit 2: 147.00 Alternative scenario: If the level 141.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 141.00 Take profit 1: 138.50 Take Profit 2: 136.80 Learn More Trading Analysis of GBP/JPY Even though the cross-currency pair printed six days of gains, the GBP/JPY needs to clear September’s high at 167.94 to cement its upward bias. GBP/JPY traders should be aware that the Relative Strength Index (RSI) shifted from aiming upwards to flat, suggesting buyers’ exhaustion. Therefore, as buyers get a respite, the GBP/JPY might correct lower to challenge the YTD high at 168.73. Our Analysis: As long as the price is above 160.65 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 164.95 Take profit 1: 167.04 Take Profit 2: 170.00 Alternative scenario: If the level of 160.65 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 160.65 Take profit 1: 159.50 Take profit 2: 157.90 Learn More Fundamental Trading Analysis of Microsoft Microsoft stock has not had a great 2022. Stock performance lagged the broader market through mid-September, thanks in part to general dissatisfaction with technology and growth stocks, and in part to lagging growth in key areas such as PC software and video games. Our Analysis: As long as the price is above 246.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 248.72 Take Profit 1: 255.00 Take Profit 2: 268.00 Alternative scenario: If the level of 246.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 246.00 Take Profit 1: 234.00 Take Profit 2: 225.00 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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