JPYBASKET Pushes Above 20-Day SMA

21 Apr 2020

The left chart shows FXCM's JPY index, JPYBASKET. It has pushed above its 20-day SMA and the SMA has started to turn up. Moreover, the RSI is on the bullish side of 50 (blue rectangle).The right chart shows the hourly time frame. Here, we can see that the EMAs are in bullish mode and the RSI, whilst testing the 50 level, has started to push up again. If the hourly holds these dynamics, we should see the JPYBASKET moving steadily upwards, pulling the SMA with it.