| Indicator | 4H | 1D | 1W |
| MACD(12;26;9) | Sell | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Neutral | Neutral |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇒ |
The South African Rand has been depreciating against the Japanese Yen since the beginning of February when the rate tried to surpass strong resistance formed by the Fibonacci 50.00% retracement at 8.22.
Given that the currency pair is being pressured by the 55-, 100– and 200-hour SMAs, it is likely that downside momentum prevails in the market within following sessions. Most likely, the rate targets the lower boundary of the long-term ascending channel located circa 7.50.
If given channel holds, it is expected that a reversal north occurs. Otherwise, the rate breaches the channel south and continues to decline towards the psychological level at 7.40.