The Turkish Lira has been appreciating slightly against the Japanese Yen since the end of August after the TRY/JPY exchange rate tried to surpass the support level –the Fibo 61.80% at 18.25.
Note that the currency pair is supported by the 200-hour moving average, currently located at 18.79. Thus, it is likely, that the pair could maintain its growth. A possible upside target is the resistance level formed by the Fibo 38.20% and the monthly R1 at 19.70.
However, note that the rate has to surpass the resistance level formed by the Fibo 50.00% at 18.98. If the given resistance holds, it is likely that a reversal south could occur, and the pair could re-test the given support level within the following trading sessions