| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Buy |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇘ |
ZAR/JPY currency pair has been trading downwards within the falling wedge pattern. The pair has already declined below 6.30.
From a theoretical perspective, it is likely that the exchange rate could continue to trade within the given pattern until the beginning of April. Then, a breakout north could occur. In this case the rate could face the resistance formed by the 200-period SMA (4H time-frame chart) near 6.90.
However, note that the currency pair is pressured by the 55-, 100– and 200-hour SMAs in the 6.30 area. Thus, a breakout south could occur, and the pair could target the 6.00 level.