| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Buy |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇒ |
The Turkish Lira has been depreciating against the Japanese Yen within the descending channel since the beginning of March.
As apparent in the chart, the TRY/JPY currency pair re-tested the lower channel line at the beginning of April. Thus, from a theoretical point of view, it is likely that short-term increase is expected, as the pair should reach the upper channel line in the 16.60/17.00 area.
If the given channel holds, it is likely that the exchange rate could continue to trade downwards within it in the medium term. Otherwise, a breakout north could follow. In this case the rate could face the resistance level—the monthly R1 at 17.32.