| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Neutral | Neutral |
| Alligator (13; 8; 5) | Buy | Sell | Sell |
| SAR (0.02; 0.2) | Buy | Sell | Sell |
| Aggregate | ⇗ | ⇘ | ⇘ |
The South African Rand has been appreciating against the Japanese Yen since the beginning of January when the exchange rate reversed from the lower boundary of the medium-term ascending channel at 7.40.
From a theoretical point of view, the general direction is expected to remain north as the pair should target the upper channel line located in the 8.60/8.80 range. Important resistance level to look out for is the Fibonacci 61.80% retracement at 8.47.
However, this advance might not be immediate as the rate should surpass the Fibonacci 50.00% retracement at 8.22.