| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Buy | Buy |
| Stochastic(5;3;3) | Buy | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
As apparent on the chart, the TRY/JPY currency pair broke the lower line of the falling wedge pattern.
Given that the exchange rate is pressured by the 55-, 100– and 200-period moving averages in the 13.25/13.60 area, it is likely that some downside potential could prevail in the market. The rate could target the psychological level at 12.00.
Meanwhile, note that the currency pair could gain support from the monthly S2 at 12.64. Thus, a reversal north could occur, and the pair could target the 14.50 mark.