USD/JPY Golden Cross

Discussion in 'Forex' started by DannyBly1, Jun 22, 2008.

  1. Although momentum has slowed down on the daily chart, the 50 and 200 SMA's appear poised to cross over with further movement to the upside (golden cross). We have resistance to the upside at 108.58 and support rising underneath with the up trendline that forms the bottom of the channel as shown on the chart. Looking for bullish follow through if the recent resistance at 108.58 can be violated and the 50 and 200 SMA's cross.