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26 Jun 2017
AUD/JPY: return to crossover level could be bought
The advance set in motion by the AUD/JPY pair lead to a cross between the 100 and 200-SMA on the 4hr charts.
Should bulls gain conviction on this signal, the 200-SMA could be defended on a price drop. The recent lows are at a relative narrow distance from the price level where the so-called “Golden Cross” occurred.
The bullish outlook should be reconsidered by a close below the 200-SMA.
Should bulls gain conviction on this signal, the 200-SMA could be defended on a price drop. The recent lows are at a relative narrow distance from the price level where the so-called “Golden Cross” occurred.
The bullish outlook should be reconsidered by a close below the 200-SMA.