| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Sell |
| Alligator(13;8;5) | Buy | Buy | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The TRY/JPY exchange rate has been trying to surpass the psychological level at 19.10 since the beginning of November.
Note that the currency pair is supported by the 55-, 100– and 200-hour moving averages, currently located in the 18.78/18.95 range. Therefore, it is likely that some upside potential could prevail in the market. Important level to look out for is the Fibonacci 38.20% retracement at 19.70.
However, if the given psychological level holds, it is likely that the Turkish Lira could continue to consolidate against the Japanese Yen in the nearest future. Also, it is unlikely that bears could prevail, and the exchange rate could drop lower than the Fibonacci 61.80% retracement at 18.25.