| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Neutral | Buy | Sell |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇗ | ⇒ | ⇘ |
The Hong Kong Dollar has been appreciating against the Japanese Yen since the end of August when the HKD/JPY currency pair reversed north from the lower boundary of the falling wedge pattern at 13.38.
As apparent from the chart, the exchange rate has already reached the upper pattern line at 13.86. From a theoretical perspective, it is likely that a reversal south could occur in the short term, as the rate has to target the lower wedge line.
However, note that the currency pair is supported by the 200-period moving average, currently located at 13.64. Thus, a possible decline might not be immediate. Also, the pair has to surpass the weekly S1 at 13.67. If the given support holds, the rate could re-test the upper pattern line. If the given wedge does not hold, the pair could target the Fibo 50.00% at 13.97.