JPY's Momentum Looks to Be Building

The charts show's FXCM's JPY index - the JPYBASKET. The left chart shows the daily time frame, which shows that the index is above its black 20-day SMA and that the SMA is angling up (aqua ellipse). The RSI is also above 50, which indicates bullishness (blue rectangle). The right chart show's the hourly time frame. The short time frame's RSI is bullishly above 50 (green rectangle). The hourly EMAs are looking to angle and separate. If this happens, the underlying upwards momentum will be building.