TRY/JPY may fall to 4.4300 - 4.5400

Our pivot point is at 4.97.

Our preference

Target 4.43.

Alternative scenario

Above 4.97, look for 5.15 and 5.26.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (4.81) but above its 50 period moving average (4.77).

Supports and resistances

5.26 **

5.15 *

4.97 **

4.90

4.78 last

4.54

4.43 **

4.33 *

4.22 **

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