Why I Think USDJPY Will Buy This Week...Technical Analysis

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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

3 févr.

Transaction en cours

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.