| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Neutral | Neutral |
| Stochastic(5;3;3) | Buy | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Neutral |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇒ | ⇘ | ⇒ |
The Turkish Lira has been depreciating against the Japanese Yen since the beginning of December after the TRY/JPY currency pair failed to surpass the psychological level at 19.20.
Currently, the exchange rate is testing the support level formed by the monthly S2 at 18.48. given that the rate is pressured by the 55-, 100– and 200-hour moving averages, it is likely that bears could continue to prevail in the market. In this case the rate could re-test the support level—the Fibonacci 61.80% retracement at 18.25.
However, this decline might not be immediate if the given support level holds, and the currency pair could reverse north to the monthly S1 located at the 18.85 mark.