JPYBasket EMAs Looking to Cross Bullishly on H1
The left chart shows the JPYBasket daily time frame. The index is above its black 20-day EMA and the EMA is pointing up. Thus the daily is regarded as trending up. Moreover, the daily RSI is on the bullish side of 50 and has normalized from recent overbought level. The right chart shows the hourly time frame. The lime 5-hour EMA is looking to cross above the orange 10-hour EMA (green ellipse). If this occurs and the RSI moves above 50 (blue rectangle) it will be regarded as bullish developments that are in line with the daily trend. If the hourly EMAs develop angle and separation after they cross it will likely be due to an increase in the underlying bullish momentum
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