Daily Trading Analysis 09.08.2023

Technical & Fundamental analysis

Trading Analysis of EUR/JPY EUR/JPY struggles for a firm intraday direction, stuck in the range around 157.00 mark. Our Analysis: While the price is above 154.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 157.11 Take Profit 1: 158.00 Take Profit 2: 159.00 Alternative scenario: If the level 154.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 154.00 Take profit 1: 152.50 Take Profit 2: 151.40 Learn More Trading Analysis of GBP/JPY GBP/JPY struggles below 183.00 as UK recession fears jostle with dicey yields, BoJ vs. BoE bias. Our Analysis: As long as the price is above 180.00 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 182.69 Take profit 1: 184.50 Take Profit 2: 186.00 Alternative scenario: If the level of 180.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 180.00 Take profit 1: 179.00 Take profit 2: 178.00 Learn More Fundamental Trading Analysis of Amazon Amazon's shares have been on an upward trend following a favorable quarterly update that left investors optimistic. Our Analysis: As long as the price is above 133.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 139.05 Take Profit 1: 143.00 Take Profit 2: 150.00 Alternative scenario: If the level of 133.00 is broken-down, follow the recommendations below:    Time frame: D1 Recommendation: short position Entry point: 133.00 Take Profit 1: 125.00 Take Profit 2: 120.00 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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