TRY/JPY may rise to 5.0900 - 5.2000

Our pivot point is at 4.62.

Our preference

As long as 4.62 is support look for 5.20.

Alternative scenario

Below 4.62, expect 4.43 and 4.31.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.81 and 4.75).

Supports and resistances

5.44 **

5.32 *

5.20 **

5.09

4.82 last

4.70

4.62 **

4.43 *

4.31 **

Number of asterisks represents the strength of support and resistance levels.