| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Buy | Neutral |
| Stochastic (5; 3) | Sell | Neutral | Buy |
| Alligator (13; 8; 5) | Sell | Sell | Neutral |
| SAR (0.02; 0.2) | Buy | Sell | Buy |
| Aggregate | ⇘ | ⇘ | ⇒ |
The Turkish Lira has been depreciating against the Japanese Yen since the beginning of December when the currency pair reversed south from the Fibonacci 0.00% retracement at 22.05.
Given that the exchange rate is being pressured by the 55-, 100– and 200-hour SMAs, it is expected that the general direction remains south in the nearest future. Potential downside target is the Fibonacci 61.80% retracement at 18.25. Technical indicators for the short run also support bearish scenario.
However, this decline might not be immediate, and the pair could re-test the resistance formed by a combination of the abovementioned moving averages.