The Turkish Lira has been appreciating against the Japanese Krone since the pair reversed from the 2017/2018 low at 15.91. This movement has been bounded in a medium-term ascending channel.
As apparent on the chart, the exchange rate is testing the lower trend line at 18.42. Also, the pair is supported by the 100-period (4H) SMA at 18.27. From the theoretical point of view, the currency pair should make a reverse and go upside. Potential target could be the 19.20/19.40 range.
However, if given channel does not hold, a breakout might occur in the nearest future, and the rate might aim for the weekly PP at 18.10.
