EUR/JPY: faster SMA now above 200-hour

As the EUR/JPY hourly chart illustrates, a cross in the 50-period SMA above the 200-period has been spotted.

In the current scenario, the recently printed low prices are at relatively narrow distance to the SMA juncture which is expected to withstand a collision. Buyers might take advantage of any marginal decline to place their orders.

The risk scenario is a sustained close beyond the 200-SMA.