Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (75.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. SGDJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (75.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. SGDJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
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💡 SGDJPY technicaly based idea, we can see price is bounce from bottom trend line, technicaly indicators showing...
The pair is trading within a Bearish Megaphone on the 1W chart (RSI = 36.000, MACD = -0.990, ADX = 37.728) since the January 2018 High. At the moment it is consolidating below the 0.382 Fibonacci retracement level following the Lower Lowe made in early March.
You can see that every Lower High made after a Lower Low, broke the 1W MA200 (orange trend line) and...
Midterm forecast:
78.70 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 77.10 on 10/03/2019, so...
Midterm forecast:
78.70 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 77.10 on 10/03/2019, so...
Seems like a great setup. Price cant get through yearly pivot support2, overextended. Last hour candle was bullish pinbar off yearly s2. RSI is like Xray, helps to detect the decease. AD volume of SGDJPY is in long term bullish uptrend on daily.
The pair is trading within a 1D Channel Up (RSI = 60.868, MACD = 0.230, Highs/Lows = 0.1233, B/BP = 0.4609) and is coming off a strong rebound on a Higher Low last week. This is a strong bullish continuation sign and we are buying this with TP = 82.000.
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The SGD/JPY currency pair has been trying to surpass the resistance level—the Fibonacci 50.00% retracement at the 83.00 mark.
Two scenarios likely. If given resistance level does not hold, it is likely that the exchange rate go upwards to re-test the upper boundary of a long-term ascending channel located circa 83.45. Important level to look out for is the...
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%...
The Singapore Dollar has been depreciating against the Japanese Yen after the currency pair reversed from the upper boundary of a long-term descending channel at 83.30.
Currently, the rate is trading near the lower boundary of the junior channel near 82.30. From the theoretical point of view, the pair should aim for the lower boundary of the senior channel....
SGDJPY is trading within an Arc pattern on the Monthly chart (RSI = 50.506, Highs/Lows = 0.0000, MACD = -0.380, B/BP = -0.9320) and the symmetrical Lower Highs are evident. One is such currently ar 81.800 which has tested the 1D Resistance level (RSI = 60.899) and is expected to be rejected and reverse lower. We are entering a short, TP = 80.265.
The SGD/JPY exchange rate has been tended north since the middle of August when it reversed from the senior channel near 80.10.
The general direction is expected to remain north within the scope of the next week. Two important levels to look out for are the monthly PP at 81.88 and the weekly R1 at 81.93.
However, technical indicators suggest that this advance...
The Singapore Dollar has been gradually appreciating against the Japanese Yen since it bounced off the senior channel circa 79.75 mid-March. The latest wave up in this junior pattern began on May 29.
The pair should have tested its upper boundary today; however, the strong resistance by the monthly R1 at 82.80 has halted any attempts to reach the given channel...
