25 Oct 2016
USD/JPY buyers could defend SMA crossover
The advance in USD/JPY prompted its 100-hr SMA to cross above the slower 200-hr SMA.
The low prices printed on hourly charts are at a converging distance to the “Golden Cross”. This price level is likely to underpin the USD/JPY rate as buyers find support at the confluence. The risk scenario is set once a close beyond the 200 SMA is printed.
The low prices printed on hourly charts are at a converging distance to the “Golden Cross”. This price level is likely to underpin the USD/JPY rate as buyers find support at the confluence. The risk scenario is set once a close beyond the 200 SMA is printed.