| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇗ | ⇘ | ⇒ |
The Turkish Lira has been depreciating against the Japanese Yen since the middle of January after the TRY/JPY currency pair failed to surpass the 18.80 level. The pair has already declined below 18.40.
Note that the exchange rate is supported by the 55-, 100– and 200-hour moving averages in the 18.30 area. Thus, some upside potential could prevail in the market. In this case the rate could target the Fibonacci 50.00% retracement at 18.98.
However, if the given support holds, it is likely that the currency pair could continue to trade downwards. In this case the pair could gain support of the monthly S1 at 17.81.