| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Sell |
| RSI (14) | Neutral | Neutral | Buy |
| Stochastic (5; 3) | Neutral | Neutral | Neutral |
| Alligator (13; 8; 5) | Buy | Neutral | Sell |
| SAR (0.02; 0.2) | Buy | Buy | Sell |
| Aggregate | ⇒ | ⇘ | ⇒ |
TRY/JPY has been appreciating in a two-week ascending channel which started when the rate reversed from the senior channel near 25.60.
This bullish sentiment resulted in a breakout of the medium-term channel and the 23.60% Fibonacci retracement at 26.60 during the previous session. However, it is likewise apparent that this two-week strong bullish momentum has allayed considerably this week, thus flashing some bearish signals.
It is likely that the pair remains guided by the 55– and 100-hour SMAs for a brief period of time prior to breaching this support and edging lower. The nearest support is the 200-hour SMA and the weekly PP at 26.40, while a more probable target is the weekly S1 at 26.00.
In case the aforementioned moving averages are not breached, the Lira should target the 38.20% Fibo retracement at 27.30 until early May.