| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇘ | ⇒ |
The ZAR/JPY currency pair continued to trade down within the symmetrical triangle pattern. As apparent on the chart, the pair has already reached the lower pattern line at 7.50.
From a theoretical point of view, it is expected, that a reversal north could occur in the nearest future. The exchange rate should target the upper triangle boundary located in the 7.80/7.90 range. Note, that the rate has to surpass the monthly PP at 7.84.
However, if the given pattern does not hold, it is likely, that a breakout south could occur soon. A possible downside target is the monthly S3 at 7.25.