Technical alerts on USDJPY and EURJPY

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By :  ,  Financial Analyst

Technical alerts on USD/JPY and EUR/JPY

Using the "technical Insight" research tool under the Market Analysis tab, we have identified bullish technical events on the USD/JPY and EUR/USD

Both currency pairs confirmed a moving average crossover on a daily chart. 

Price Crosses Moving Average (21-day). This technical event signals technical traders that the price is generally in an established trend (bullish or bearish) for the time horizon represented by the moving average period (21, 50 or 200 bars).

Moving averages are used to smooth out the volatility or "noise" in the price series, to make it easier to discover the underlying trend. By plotting the average price over the last several bars, the line is less "jerky" than plotting the actual prices. A bullish event is generated when the price crosses above the moving average, and in this state, the price is likely in an established short-term uptrend. 

Source: GAIN Capital, Technical Insight

Source: GAIN Capital, Technical Insight

Check out more technical events that have been identified inside the "technical Insight" research tool under the Market Analysis tab. 

Happy trading
Related tags: Forex Forex USD JPY

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