| Indicator | 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) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇗ | ⇘ |
The ZAR/JPY exchange rate has been trading up since the beginning of June after the rate reversed north from the lower boundary of the long-term descending channel at 7.17.
Currently, the currency pair is trading near the upper channel line located circa 7.70. From a theoretical perspective, it is expected, that a reversal south could occur in the nearest future. Important level to look out for is the Fibonacci 0.00% retracement at 7.17.
However, note, that the pair is supported by the 200-hour SMA at 7.58, thus, a breakout north from the channel could occur within the following trading sessions. In this case, the rate could target the Fibonacci 39.30% retracement at 8.00.