Downside risks prevailed in the market, thus sending the Singapore Dollar 2.60% lower against the Japanese Yen.
Given that the pair is pressured by the 200-period SMA (4H) at 81.96, the general direction is expected to remain south within the scope of the next week. Two important levels to look out for are the monthly S1 at 81.24 and the Fibonacci 39.80% retracement at 80.61.
However, this decline might not be immediate, as some upside pressure is likely to push the exchange rate up to the the weekly R1 at 81.86.