AUD/JPY: return to crossover level could be bought

The advance set in motion by the AUD/JPY pair lead to a cross between the 100 and 200-SMA on the 4hr charts.

Should bulls gain conviction on this signal, the 200-SMA could be defended on a price drop. The recent lows are at a relative narrow distance from the price level where the so-called “Golden Cross” occurred.

The bullish outlook should be reconsidered by a close below the 200-SMA.