| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Sell | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇒ | ⇒ |
The South African Rand has been appreciating against the Japanese Yen since the beginning of November. This movement has been bounded within the ascending channel.
Currently, the ZAR/JPY exchange rate is testing the upper channel line at 7.65. From a theoretical perspective, it is likely that a reversal south could occur in the nearest future, and the rate could continue to appreciate within the given channel in the medium term.
However, note that the currency pair is supported by the 55-, 100– and 200-hour SMAs. Thus, it is likely that a breakout north could occur in the nearest future, and the pair could re-test the resistance level formed by the Fibo 39.30% at 7.79.