Momentum: The EUR/JPY is in a more bullish mode than the USD/JPY in the 1H time-frame. The RSI has been staying above 40 after tagging 70. It is again pushing to 70 showing continuing development of bullish momentum. Trading above the 200-hour SMA also reflects a bullish market in the short-term. Consolidation breakout: The lower moving averages have converged, and a bullish market should spread them apart with the shortest period pushing up the fastest. Price action has already shown a strong breakout 1H candle trading above the November high of 107.66. Remember that the EUR/JPY recently broke above a very key ... (full story)