| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
The HKD/JPY currency pair has been trading down along the upper boundary of the long-term descending channel since the beginning of July. Currently, the pair is trading near the given line at 13.84.
From a theoretical perspective, it is expected, that a reversal south could occur within the following trading sessions. The nearest downside target is the psychological level at 13.75.
However, note, that the exchange rate is supported by the 100 and 200-hour SMAs, as well the Fibonacci 61.80% retracement circa the 13.83 mark. Thus, if the given channel does not hold, the rate could extend gains in the nearest future. A possible upside target is the resistance formed by the weekly and monthly R1s located circa 13.90.