Daily Trading Analysis 15.03.2023

Technical & Fundamental analysis

Trading Analysis of EUR/JPY The EUR/JPY pair is struggling to extend its gains above the immediate resistance of 144.40 in the Asian session. The cross is expected to extend its upside journey as the release of the dovish Bank of Japan (BoJ) minutes has impacted the Japanese Yen.  Our Analysis: While the price is above 143.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 144.51 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 gains traction on risk-on mood, with traders eyeing BoJ Minutes, UK’s budget.  Our Analysis: As long as the price is above 162.00 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 163.62 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 Tesla Elon Musk, the CEO of several prominent companies, including Tesla and SpaceX, is known for his entrepreneurial spirit and penchant for the limelight. Our Analysis: As long as the price is above 165.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 182.56 Take Profit 1: 195.00 Take Profit 2: 215.00 Alternative scenario: If the level of 165.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 165.00 Take Profit 1: 154.00 Take Profit 2: 137.00 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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