| 4H | 1D | 1W | |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇗ |
Since October, the ZAR/JPY exchange rate has been trading upwards, guided by an ascending trend line.
It is likely that the currency pair could continue to follow the predetermined trend line and extend gains in the medium term. In this case the pair could face the resistance level—the Fibo 50.00% at 7.44.
In the meantime, note that the exchange rate is pressured by the 55-, 100– and 200-period moving averages in the 7.00 area. Thus, some downside potential could prevail in the market, and the rate could target the psychological level at 6.20.