| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇒ | ⇘ | ⇒ |
The ZAR/JPY exchange rate reversed south from the resistance level formed by the Fibonacci 50.00% retracement and reached the lower boundary of the long-term ascending channel at 7.58.
Currently, the currency pair is testing the resistance level formed by a combination of the 100– and 200-hour SMAs at 7.71. If given resistance does not hold, it is likely that some upside potential prevails in the market.
Otherwise, it is likely that the rate re-tests the lower channel line. If given trend does not hold, it is expected that a breakout south occurs within the following sessions. Potential downside target is the psychological level at 7.20.