ZAR/JPY 1H Chart: Pressured by 55-, 100– and 200-hour SMAs

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)BuyNeutralNeutral
Stochastic(5;3;3)BuyBuySell
Alligator(13;8;5)SellBuyNeutral
SAR(0.02;0.2)SellSellBuy
Aggregate

The South African Rand has been appreciating against the Japanese Yen since the end of March when the currency pair reversed north from the trend line at 7.52.  

As apparent on the chart, the pair could not surpass the psychological level at 8.05. Given that the exchange rate is pressured by the 55-, 100– and 200-hour SMAs, currently located in the 7.93/7.97 range, it is likely, that bears could prevail in the market. A possible downside target is the Fibonacci 23.60% at 7.67.  

If the given resistance does not hold, it is expected, that the rate continues to trade upwards and reaches the monthly R2 at 8.17.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.