Daily Trading Analysis 22.02.2023

Technical & Fundamental analysis

Trading Analysis of EUR/JPY The EUR/JPY hit a fresh year-to-date (YTD) high at 144.16 on Tuesday, closing the session with gains of 0.26%. However, as Wednesday’s Asian Pacific session begins, the EUR/JPY exchanges hands at 143.70, below its opening price by a minuscule 0.03%.  Our Analysis: While the price is above 143.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 143.58 Take Profit 1: 145.60 Take Profit 2: 147.00 Alternative scenario: If the level 143.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 143.00 Take profit 1: 141.50 Take Profit 2: 140.00 Learn More Trading Analysis of GBP/JPY GBP/JPY bulls take a breather around 163.30, after rising the most in seven days during early Wednesday. The cross-currency pair’s latest gains could be linked to the upbeat UK data and hawkish concerns surrounding the Bank of England (BoE).  Our Analysis: As long as the price is above 162.00 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 163.15 Take profit 1: 165.00 Take Profit 2: 169.00 Alternative scenario: If the level of 162.00 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 162.00 Take profit 1: 159.00 Take profit 2: 157.00 Learn More Fundamental Trading Analysis of Cisco Systems Shares of Cisco Systems jumped 5 percent after the latest earnings report was released. Our Analysis: As long as the price is above 46.50, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 49.61 Take Profit 1: 51.00 Take Profit 2: 54.00 Alternative scenario: If the level of 46.50 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 46.50 Take profit 1: 44.00 Take Profit 2: 42.00 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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