| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Buy |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
The TRY/JPY currency pair has been trading downwards within a falling wedge pattern since the end of August.
From a theoretical point of view, it is likely that a breakout north from the given pattern could occur within the following trading sessions. In this case the exchange rate could target the psychological level at 14.80.
In the meantime, note that the currency pair is pressured by the 55-, 100– and 200-period SMAs in the 14.20/14.50 area. Thus, some downside potential could continue to prevail in the market.