The South African Rand is surging against the Japanese Yen simultaneously in three ascending channel patterns of various scale. The smaller the scale of the pattern the more vertically inclined it is. The final result of the surge of the Rand against the Yen might be a curve, if the trend continues on. However, the currency exchange rate is soon to meet with the combined resistance of the medium and small scale pattern upper trend lines just below the 8.60 mark. Market participants should watch that level, as in accordance with the patterns a decline or horizontal movements of the pair are likely to follow.
| Level | Rationale | Indicator | 1H | 4H | 1D | |||
| R4 | 8.77 | Trend line | MACD (12; 26; 9) | Buy | Buy | Buy | ||
| R3 | 8.68 | Weekly R2 | RSI (14) | Sell | Neutral | Neutral | ||
| R2 | 8.64 | Monthly R1 | Stochastic (5; 3; 3) | Sell | Sell | Sell | ||
| R1 | 8.56/58 | Weekly R1; trend lines | ADX (14) | Buy | Neutral | Neutral | ||
| S1 | 8.47 | Trend line | CCI (14) | Sell | Sell | Sell | ||
| S2 | 8.42 | 55-hour SMA | AROON (14) | Buy | Buy | Buy | ||
| S3 | 8.38/36 | 100, 200-hour SMAs; weekly PP; trend | Alligator (13; 8; 5) | Buy | Buy | Buy | ||
| S4 | 8.27/25 | Monthly PP; trend line; weekly S1 | SAR (0.02; 0.2) | Buy | Buy | Buy | ||
| Aggregate | ↗ | ↗ | ↗ |