22 Jul 2015
GBP/JPY SMA cross argues move higher
The recapture of previous swing highs has resulted in a cross of the GBP/JPY 50-period above the 200 SMA.
The signal emerged on 4-hour charts further bolstering the near-term GBP/JPY price structure. While breakout traders will wait for a close above recent tops to negotiate a new bull move, less conservative participants will expect a re-test of the crossing level to prove benevolent for continued upside.
The signal emerged on 4-hour charts further bolstering the near-term GBP/JPY price structure. While breakout traders will wait for a close above recent tops to negotiate a new bull move, less conservative participants will expect a re-test of the crossing level to prove benevolent for continued upside.