[BTCJPY] The 5-day moving average breaks above the 25-day and 75-day moving averages

In the post dated August 28, "BTCJPY: Breaks above the prolonged range!" we explained that the former inverse head and shoulders neckline level could now serve as a support line, suggesting that the long consolidation between 750,000 and 650,000 JPY might be breaking out. In fact, yesterday formed a strong bullish candle, and the 5-day moving average clearly crossed above the 75-day moving average. It appears to be aiming for further upside again. Even if it moves lower, attention will be on whether the area around 750,000 JPY can continue to act as a support line.