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

Russell Shor, CFTe, MFTA FXCM

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).

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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