| 4H | 1D | 1W | |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Sell | Sell | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇗ |
Since the middle of October, the ZAR/JPY exchange rate has been trading within an ascending channel.
From a theoretical perspective, it is likely that the currency pair could continue to trade within the predetermined channel in the medium term. The pair could target the Fibo 50.00% at 7.44.
In the meantime, note that the exchange rate could face the resistance level—the Fibo 39.30% at 7.05. If the predetermined level holds, a breakout south could occur, and the rate could decline to the Fibo 23.60% at 6.48.