| 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) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇗ | ⇓ |
Since the beginning of December, the ZAR/JPY currency pair has been trading within a falling wedge pattern.
From a theoretical point of view, it is likely that the exchange rate could continue to trade within the predetermined pattern in the medium term.
In the meantime, note that the rate is supported by the 55-, 100– and 200-period moving averages in the 6.95 area. Thus, a breakout north could occur, and the pair could try to exceed the Fibo 50.00% at 7.44.