USD/JPY’s EMAs Looking To Move Into Bullish Stack

The below is the daily chart of the USDJPY. The currency pair's orange 13-day EMA is looking to cross above its black 34-day EMA (red ellipse). If there is a crossover, the EMAs will move into a bullish stack I.e. the green 5-day EMA will be above the orange 13-day EMA, and the orange 13-day EMA will be above the black 34-day EMA. This is usually indicative of a mark-up stage. We also note that the currency pair’s RSI(9) is also above 50 and indicative of an underlying bullish momentum (blue rectangle).

USDJPY

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