Fri, Jan 21, 2022 @ 02:20 GMT
HomeContributorsTechnical AnalysisTRY/JPY 4H Chart: Two Scenarios Likely

TRY/JPY 4H Chart: Two Scenarios Likely

Since the end of November, the TRY/JPY exchange rate has been trading upwards within a rising wedge pattern.

From a theoretical perspective, it is likely that the currency pair could breach the predetermined pattern south within the following trading sessions. In this case the pair could target the psychological level at 12.00.

Meanwhile, note that the exchange rate is supported by the 200-period moving average near 13.65. Thus, some upside potential could continue to prevail in the market.

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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