Daily Trading Analysis 11.01.2023

Technical & Fundamental analysis

Trading Analysis of EUR/JPY The EUR/JPY pair is struggling to extend its upside journey above the immediate resistance of 142.00 in the early Asian session. The cross demonstrates a sideways profile but is likely to remain in the bullish trajectory amid an upbeat market mood. Our Analysis: While the price is below 140.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 142.17 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 sensed selling pressure after multiple failed attempts of surpassing the critical resistance of 161.00 from the past two trading sessions. The cross is likely to display volatile moves amid chatters over the review of decade-long easy policy under the new Bank of Japan (BoJ) leadership ahead. Our Analysis: As long as the price is above 158.50 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 160.95 Take profit 1: 162.35 Take Profit 2: 165.00 Alternative scenario: If the level of 158.50 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 158.50 Take profit 1: 155.00 Take profit 2: 152.50 Learn More Fundamental Trading Analysis of Amazon The stock market saw a significant drop in 2022, and many companies suffered losses when faced with macroeconomic factors. Our Analysis: As long as the price is below 96.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 88.94 Take Profit 1: 81.00 Take Profit 2: 75.00 Alternative scenario: If the level of 96.00 is broken-out, follow the recommendations below:  Time frame: D1 Recommendation: long position Entry point: 96.00 Take Profit 1: 103.00 Take Profit 2: 108.50 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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