ZAR/JPY 1H Chart: Pressured by 100– and 200-hour SMAs

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)BuySellBuy
Aggregate⇒⇘⇒

[ANNOUNCE] The ZAR/JPY exchange rate reversed south from the resistance level formed by the Fibonacci 50.00% retracement and reached the lower boundary of the long-term ascending channel at 7.58. [/ANNOUNCE] 

Currently, the currency pair is testing the resistance level formed by a combination of the 100– and 200-hour SMAs at 7.71. If given resistance does not hold, it is likely that some upside potential prevails in the market.  

Otherwise, it is likely that the rate re-tests the lower channel line. If given trend does not hold, it is expected that a breakout south occurs within the following sessions. Potential downside target is the psychological level at 7.20.

Actual Topics