25 Oct 2016
AUD/JPY hints at dip buying
The hourly 50-period SMA broke through the slower 200-period SMA, adding credence to the recent bullish AUD/JPY profile.
If AUD/JPY spot falls closer to the level where the moving averages crossed, then buyers might see it as an opportunity to reenter. Furthermore, a convincing break through the 50 SMA signals a neutral tone, shifting negative below the 200 SMA.
If AUD/JPY spot falls closer to the level where the moving averages crossed, then buyers might see it as an opportunity to reenter. Furthermore, a convincing break through the 50 SMA signals a neutral tone, shifting negative below the 200 SMA.