| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The HKD/JPY exchange rate has been trading within a rising wedge pattern since the beginning of May. Currently, the rate is testing the lower pattern line.
Given that the currency pair is pressured by the 55-, 100– and 200-hour SMAs, it is likely that a breakout south could occur in the nearest future. Note that the pair could get support from the monthly S1 and the Fibo 61.80% in the 13.67/13.71 area.
If the given support holds, it is likely that a reversal north could follow and the rate could re-test the Fibo 50.00% at 13.88. Otherwise, the pair could decline to the psychological level at 13.20.