-Add shorts along upper downtrend line.
-Price satisfaction is yields a very decent risk to reward ratio.
-Cut loss once it hits green line, most likely pattern will be invalid if it hits the green line.
-BEARISH BIAS!
-Looking to test the blue resistance line on the top. Once breach will serve as support for the next move upwards.
-Moving averages shows signs of bullishness and uptrend is still intact.
-Looking to test resistance at 145 once breach, will run up to 151 level.
-Current price is supported by 20EMA while 50EMA is crossing 200EMA which is a bullish sign.
-Been trading in range for the past 1 year or so, marked in turquoise line.
-Under 200EMA, bearish bias.
-50EMA above 20EMA and pointing downwards, rather bearish bias.
-Looking to short back to lower range, breaching pink support level might take partial profit each time it hits the pink support and more partial profit at orange finally at turquoise support line.
-Inverse head & shoulders pattern previously formed and reaching price satisfaction at 1.2386
-Looking to short down to 20EMA many technical traders will look to take profit after buying on the breakout.
-After shorting back to 20EMA price will test new high at 1.14x level.
**Conclusion: SHORT TERM BEARISH, MID TERM BULLISH!
Technicals
-Short term swing trading.
-Possible deathcross and breaching 200EMA.
-Looks like price action will cover gap.
-109.7 support level to be soon tested which is located near the uptrend line.
Economics P.O.V (Mid-Long Term Analysis
-Inflation is picking up in Japan
-Trump wants cheap USD
-Fed slowing down on rate hikes.
-Japan might get out of...
-Strong base formed(blue lines)
-There are still many uncovered shorts, another round of short squeeze incoming.
-Price is above 200EMA, looking to long than to short.
-MACD death cross, looks like it will test 50EMA, uptrend still intact.
-Looking to turn from short to long at 50EMA, overall still bullish on Singapore equities.
-If 25,032 holds cover short.
-If 25,032 high probability that it will go back to 20EMA at 24,904
-Uptrend still intact, after covering short can look accumulate longs at 20EMA level.
-Continuation pattern to support uptrend.
-Once it breaks out 21,032 level, it will swing up to 22,000 level.
-Moving averages are still supporting current trend.
-A wise old man once said, "the trend is your friend till it breaks"
-Ascending triangle, once breaks out of 2400 psychological level, it will go up to 2500.
-Short term wise, long to 2399 level and take profit after that short back to green support level.
-Cover short at green support level and turn into long, TP:2500
-Floor and ceiling effect, looks like will bounce back to uptrend line and many swing shorts will be covered.
-Will turn into long once it reaches the blue line.
-Currently short, entry @1.35146 looking to cover at 1.34661 to 1.33818
