| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Sell |
| RSI (14) | Sell | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Neutral |
| Alligator (13; 8; 5) | Buy | Neutral | Sell |
| SAR (0.02; 0.2) | Buy | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇘ |
The ZAR/JPY exchange rate breached a medium-term channel and reached the weekly R2 at 7.8783.
As apparent on the chart, new descending channel (drawn in red) has been formed recently. If given channel holds, the pair could reverse from its upper line and aim for the support cluster formed by a combination of the 55-, 100-hour SMAs, the weekly R1 and the Fibonacci 23.60% retracement in the 7.65/7.75 range. Technical indicators for the long term support bearish scenario.
Otherwise, the pair could breach new channel and continue going upside to the resistance cluster formed by the Fibonacci 50.00% retracement and the monthly R1 located circa 8.20