| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇘ | ⇒ | ⇘ |
During the first three weeks of February, the ZAR/JPY currency pair consolidated within the symmetrical triangle pattern. During today's morning, the pair broke lower pattern line at 7.30.
From a theoretical point of view, it is likely that some downside potential could prevail in the market. In this case the exchange rate could re-test the psychological level at 7.00 in the medium term.
It is unlikely that bulls could prevail in the market, and the currency pair could exceed the Fibonacci 39.30% at 7.80 in the medium term.