| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇗ | ⇓ |
The TRY/JPY currency pair has been trading upwards since the beginning of May when it reversed north from the Fibo 100.00% at 14.75.
It is likely that the exchange rate could gain support from the 100– and 200-hour moving averages near 15.95. Thus, some upside potential could prevail in the market. In this case the rate could reach the Fibo 61.80% at 17.54.
Meanwhile, note that the currency pair would have to surpass the monthly R1 and R2, located at 16.41 and 16.97 respectively. If the given levels hold, it is likely that a reversal south could occur, and the pair could consolidate in the 14.50/16.50 area.