HomeContributorsTechnical AnalysisZAR/JPY 4H Chart: Two Scenarios Likely

ZAR/JPY 4H Chart: Two Scenarios Likely

The ZAR/JPY exchange rate continued to trade within the symmetrical triangle pattern.

From a theoretical perspective, it is likely that the currency pair could continue to trade sideways within the predetermined pattern until the second half of November.

Meanwhile, note that the exchange rate is pressured by the 55-, 100– and 200-period SMAs in the 6.25/6.40 area. Thus, a breakout south could occur, and the rate could decline to the psychological level at 6.00.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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