| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Buy | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇘ | ⇗ |
The ZAR/JPY currency pair has been trading downwards since the end of December after it failed to surpass the Fibonacci 39.30% retracement at 7.79. As apparent on the chart, the pair is trading at 7.50.
Note that the exchange rate is pressured by the 55-, 100– and 200-hour moving averages, currently located circa 7.60. Thus, some downside potential could prevail in the market, and the rate could decline below 7.20.
However, note that the currency pair could gain support of the monthly S1 and the Fibonacci 23.60% in the 7.40 area. If the given support holds, a reversal north could occur, and the pair could re-test the Fibo 39.30%.