| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Neutral | Sell |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇒ |
The ZAR/JPY exchange rate has been trading within a falling wedge pattern since the beginning of June.
From a theoretical point of view, it is likely that a reversal north could occur in the nearest future. In this case the currency pair could raise to the resistance level—the monthly R2 located at 6.6163.
Meanwhile, note that the exchange rate is pressured by the 55-, 100– and 200-hour moving averages. Thus, some downside potential could prevail in the market, and the rate could re-test the 5.6000 level.