| 4H | 1D | 1W | |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Buy | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇗ | ⇘ |
The ZAR/JPY exchange rate has been trading upwards within an ascending channel since the beginning of August.
From a theoretical perspective, it is likely that the currency pair could continue to extend gains within the given channel in the nearest future. Note that the pair could face the resistance level—the Fibo 23.60% at 6.48.
In the meantime, it is unlikely that bears could prevail in the market, and the exchange rate could decline below the monthly S1 at 6.02.