Mon, Jan 17, 2022 @ 21:44 GMT
HomeContributorsTechnical AnalysisTRY/JPY 4H Chart: Upside Potential Could Prevail

TRY/JPY 4H Chart: Upside Potential Could Prevail

Since the end of November, the TRY/JPY exchange rate has been trading upwards within an ascending channel.

From a theoretical point of view, it is likely that the currency pair could continue to appreciate within the predetermined channel. In this case the pair could reach the Fibo 38.20% at 15.88 by the beginning of April.

Meanwhile, note that the exchange rate is supported by the 55-, 100– and 200-period moving averages in the 14.40/15.00 range. Thus, a breakout south could occur, and the pair could raise to the Fibo 50.00% at 17.05.

Dukascopy Swiss FX Group
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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