| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Sell | Neutral | Buy |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇗ | ⇘ |
The ZAR/JPY currency pair has been trading upwards since the beginning of May, after the pair reversed north from the psychological level at 5.60.
Note that the exchange rate is supported by the 55-, 100– and 200-hour moving averages in the 5.95/6.15 area. Thus, some upside potential could prevail in the market. In this case the rate would have to surpass the Fibo 23.60% at 6.48.
If the given resistance level holds, it is likely that the currency pair could consolidate in the medium term. Otherwise, the pair could reach the Fibo 39.30% at 7.05.