Daily Trading Analysis 28.12.2022

Technical & Fundamental analysis

Trading Analysis of EUR/JPY Japan’s Ex-MoF Nakao: Widening YCC band to make policy transition smoother. Our Analysis: While the price is below 140.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 142.60 Take Profit 1: 143.80 Take Profit 2: 145.60 Alternative scenario: If the level 140.80 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 140.80 Take profit 1: 138.80 Take Profit 2: 137.80 Learn More Trading Analysis of GBP/JPY The GBP/JPY pair has extended its gains to near 160.78 after rebounding from near the psychological resistance of 160.00 in the Asian session. Our Analysis: As long as the price is below 163.00 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 161.27 Take profit 1: 158.50 Take Profit 2: 155.00 Alternative scenario: If the level of 163.00 is broken-out, follow the recommendations below:     Time frame: D1 Recommendation: long position Entry point: 163.00 Take profit 1: 165.00 Take profit 2: 167.00 Learn More Fundamental Trading Analysis of 3M To say that 3M stock has been disappointing lately is a gross understatement. Our Analysis: As long as the price is above 119.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 120.12 Take Profit 1: 123.50 Take Profit 2: 129.00 Alternative scenario: If the level of 119.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 119.00 Take Profit 1: 116.00 Take Profit 2: 111.00 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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