| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Neutral | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇒ | ⇘ | ⇒ |
The TRY/JPY currency pair re-tested the lower boundary of the long-term descending channel near 17.20 at the beginning of March. Currently, the pair is testing the resistance formed by the 200-hour SMA near 17.80.
From a theoretical point of view, it is likely that some upside potential could prevail in the market, and the exchange rate could reach the upper channel line near 18.40 in the medium term.
However, if the given resistance holds, it is likely that a breakout south could occur within the following trading sessions. Important level to look out for is the monthly S2 located at 16.46.