| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Buy |
| Stochastic(5;3;3) | Neutral | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇒ |
The ZAR/JPY currency pair has been trading downwards within a descending channel since the beginning of March. The pair has already declined below 6.00.
From a theoretical point of view, it is likely that the exchange rate could continue to trade within the given channel in the medium term. In this case the rate could decline below the 5.00 mark at the beginning of May.
However, note that the currency pair could face the support level—the monthly S2 at 5.2577. If the given support level holds, it is likely that a reversal north could occur, and the pair could raise to the 6.60 level.