| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇘ | ⇒ | ⇒ |
The Hong Kong Dollar continued to appreciate against the Japanese Yen within the rising wedge pattern. As apparent on the chart, the HKD/JPY currency pair reversed north from the lower pattern line.
From a theoretical point of view, it is likely that bulls could prevail in the market, as the exchange rate should target the upper pattern line located in the 14.00/14.06 area.
However, the expected advance might not be immediate, as the currency pair would have to surpass the resistance formed by the monthly R1 and the Fibonacci 50.00% retracement at 13.97. Also, it is unlikely that bears could prevail, and the pair could decline lower than the monthly PP at 13.77.