USDJPY slices through 50-day SMA

USDJPY slices through 50-day SMA

From xm.com

video USDJPY had been trending lower since its upward sloping channel broke to the downside in early March. However, the pair crossed above its 50-day simple moving average (SMA) following the strong rebound from its March lows, which has temporarily stalled at the upper Boundary of the Ichimoku cloud. The momentum indicators currently suggest that bullish forces are in control. Specifically, the stochastic oscillator is ascending within the 80-overbought zone, while the MACD histogram is strengthening above both zero and its red signal line. If the pair manages to extend its advance, initial resistance could be ... (full story)

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Apr 19, 2023 12:47pm Apr 19, 2023 12:47pm

traderathome
Joined Mar 2008 | Status: PVSRA with Traderathome | 1595 Comments

"USDJPY slices through 50-day SMA.....bullish forces are in control......." Oh, really?

Instead of digesting this cleverly added bias cancer,.......HTMRW.
.......we might take our own look at what charts reveal.

And we can see that UJ might actually be near done with the bullish trend. And, if so (remember: we cannot EVER know what the MMs will do with price next) this is the time the MMs will be looking to sucker in buyers to they can close SM long positions and fill SM new sell positions.........HTMRW.

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Posted: Apr 19, 2023 6:57am
Submitted by:
Newsstand

Category: Technical Analysis

Comments: 1 / Views: 757

USDJPY slices through 50-day SMA

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