| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Neutral | Buy |
| Stochastic (5; 3) | Neutral | Neutral | Neutral |
| Alligator (13; 8; 5) | Sell | Sell | Sell |
| SAR (0.02; 0.2) | Sell | Buy | Sell |
| Aggregate | ⇘ | ⇒ | ⇘ |
The bearish sentiment which dominated the TRY/JPY exchange rate since the beginning of 2018 reversed to the upside late in March when the pair hit the bottom boundary of a senior channel.
The rate has since been moving sideways and has formed two junior channels along the way. In case the nearest resistance cluster near 26.00 is breached, the pair is expected to target the upper boundary of the senior channel and the monthly PP at 27.00. It is likely that this surge also continues for the medium-term, especially taking into account that the Turkish Lira is currently located near its many-year low of 26.20.
On the other hand, technical indicators still flash bearish signals during the following week, suggesting that the pair might form a new low. A possible downside target in this case is either a downward-sloping trend-line or the senior channel at 26.00 and 25.70, respectively.