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2 Sep 2015
SMA cross inflicts damage to EUR/JPY chart
An important moving average crossover has occured on the 4 hour EUR/JPY chart.
A press of the 50 moving average below the 200-period is capable of changing the EUR/JPY price trend from aimless meandering to confidently bearish. Absent a new meaningful throw-back towards the 200 SMA, punters will sell the break of recent lows. Nevertheless, the looming SMA cross could be used to assist the bear force on such a short-term upward movement.
A press of the 50 moving average below the 200-period is capable of changing the EUR/JPY price trend from aimless meandering to confidently bearish. Absent a new meaningful throw-back towards the 200 SMA, punters will sell the break of recent lows. Nevertheless, the looming SMA cross could be used to assist the bear force on such a short-term upward movement.