| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The ZAR/JPY currency pair has been trading within a rising wedge pattern since the end of June.
From a theoretical point of view, it is likely that the exchange rate could continue to extend gains within the given pattern until the end of current month. Then, a breakout south could follow.
Meanwhile, note that the currency pair could gain support from the 55-, 100– and 200-hour SMAs in the 6.40 area. Thus, some upside potential could continue to prevail in the market, and the pair could target the 6.80 level.