Daily Trading Analysis 08.02.2023

Technical & Fundamental analysis

Trading Analysis of EUR/JPY EUR/JPY picks up bids to 140.80 while paring the biggest daily loss in nearly a month during Wednesday’s sluggish Asian session. Our Analysis: While the price is below 140.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 140.75 Take Profit 1: 142.00 Take Profit 2: 142.90 Alternative scenario: If the level 140.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 140.00 Take profit 1: 138.80 Take Profit 2: 137.80 Learn More Trading Analysis of GBP/JPY The GBP/JPY pair has sensed selling interest while attempting to extend recovery above the critical resistance of 158.00 in the Asian session. The less-confident pullback move by the Pound Sterling has been punished, and the downside journey for the cross has resumed. Our Analysis: As long as the price is above 156.75 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 158.08 Take profit 1: 1620.00 Take Profit 2: 162.35 Alternative scenario: If the level of 156.75 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 156.75 Take profit 1: 155.00 Take profit 2: 152.50 Learn More Fundamental Trading Analysis of Amazon Amazon stock has fallen more than 30% over the past 12 months. Shares of the international online commerce platform briefly rebounded in 2023 and then lost significantly after weaker-than-analysts-expected earnings. Our Analysis: As long as the price is above 95.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 101.35 Take Profit 1: 113.00 Take Profit 2: 122.00 Alternative scenario: If the level of 95.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 95.00 Take Profit 1: 90.00 Take Profit 2: 85.00 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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