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Dear traders and followers,
Today, I'd like to talk about the technical analyses of USD/JPY using daily chart. I'm going to buy it when it crosses the 123.45 price level with SL near 123.00 and TP 126.00.
Now the pair is over EMA 200, so it's better to buy it. But I'm going to wait until the price go over the red line. According to one of the best traders Bill Williams, you should buy equity if its price over the red line (he calls it the Alligator's teeth) and vice versa.
There are also many fundamental reasons for moving the pair up like possibility of hiking rate in the US in September, different speed of economic growth in these countries, printing $85 billion a month by BoJ, etc.
Good luck in trading!
Today, I'd like to talk about the technical analyses of USD/JPY using daily chart. I'm going to buy it when it crosses the 123.45 price level with SL near 123.00 and TP 126.00.
Now the pair is over EMA 200, so it's better to buy it. But I'm going to wait until the price go over the red line. According to one of the best traders Bill Williams, you should buy equity if its price over the red line (he calls it the Alligator's teeth) and vice versa.
There are also many fundamental reasons for moving the pair up like possibility of hiking rate in the US in September, different speed of economic growth in these countries, printing $85 billion a month by BoJ, etc.
Good luck in trading!
