Why I Think USDJPY Will Buy This Week...Technical Analysis
Hey Rich Friends,
This is a technical analysis of USDJPY. I encourage you to check the news and cross-reference your own charts and indicators before taking any trades.
I think USDJPY will be buying this week, and here is what I am looking at:
- The candles have started to cross and close above the 200 EMA. When candles are above an EMA, it tends to act as an area of support and confirm a buying trend. You can and should backtest this.
- The STOCH is facing up, the fast line (blue) is above the slow line (orange) and both lines have crossed above 80%. This is a strong bullish confirmation for me.
- I have a few potential TPs and buy stops set at previous highs in case the market does continue to push up, my SL will be a previous low.
If this makes sense or you agree, let me know down below in the comments.
Peace and Profits,
Cha
This is a technical analysis of USDJPY. I encourage you to check the news and cross-reference your own charts and indicators before taking any trades.
I think USDJPY will be buying this week, and here is what I am looking at:
- The candles have started to cross and close above the 200 EMA. When candles are above an EMA, it tends to act as an area of support and confirm a buying trend. You can and should backtest this.
- The STOCH is facing up, the fast line (blue) is above the slow line (orange) and both lines have crossed above 80%. This is a strong bullish confirmation for me.
- I have a few potential TPs and buy stops set at previous highs in case the market does continue to push up, my SL will be a previous low.
If this makes sense or you agree, let me know down below in the comments.
Peace and Profits,
Cha
Trade active
No buy stops triggered yet which is great because the market sold. When it goes back up to creat a new high, I already have my pending orders in place.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.