As the EUR/JPY hourly chart illustrates, a cross in the 50-period SMA above the 200-period has been spotted.
In the current scenario, the recently printed low prices are at relatively narrow distance to the SMA juncture which is expected to withstand a collision. Buyers might take advantage of any marginal decline to place their orders.
The risk scenario is a sustained close beyond the 200-SMA.
|114.96832784016 ||115.02166239420 ||115.12833150227 ||115.28833516438 ||115.34166971842 ||115.44833882649 |
|Trend Index||OB/OS Index|
| Bearish || Neutral |