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Sgd-jpy

A Great Weekly Forecast and Technical Analysis for SGDJPYMidterm 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 more gains to resistance(s) 79.75, 80.85, 81.65 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index ( RSI ) is 68. Trading suggestion: By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
Long
by ForecastCity
2
A Great Weekly Forecast and Technical Analysis for SGDJPYMidterm 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 more gains to resistance(s) 79.75, 80.85, 81.65 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 65. Trading suggestion: By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
Long
by ForecastCity
8
SGD/JPY 1H Chart: Two scenarios likelyThe 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 monthly R1 at 83.16. Otherwise, a reversal south might occur in the nearest future. A potential downside target is the Fibonacci 38.20% retracement at 80.72.
by UnknownUnicorn890690
SGD/JPY 1H Chart: Short-term decline expectedDownside 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.
by UnknownUnicorn890690
SGD/JPY 1H Chart: Pressured by 55-, 100– and 200-hour SMAsThe 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. Given this fact, it is expected that the pair might continue following the junior trend. Potential downside targets could be the weekly S2 at 81.95 and the weekly S3 at 81.64. It is unlikely that the exchange rate could surge towards the upper line of the senior channel due to the resistance of the 55-, 100– and 200-hour SMAs located in the 82.64/82.78 range.
by UnknownUnicorn890690
SGD/JPY 1H Chart: Short-term decline expectedThe 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 might not be immediate, as some downward pressure is likely to push the rate down to the 100-hour SMA at 81.22 or slightly lower to the weekly PP at the 81.09 mark.
by UnknownUnicorn890690
SGD/JPY 1H Chart: Pair restricted by 82.80The 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 this week. This might point to a change in sentiment, thus resulting in a fall within the following session. If the 55-period (4H), 100– and 200-hour SMAs and the 38.20% Fibo retracement are breached near 82.40, the Singapore Dollar is most likely to decline and target either the 100– and 200-period (4H) SMAs or the monthly PP at 82.00 and 81.50, respectively. Conversely, the rate moving above 82.80 should be followed by a slight surge until 83.50 prior to making a bearish reversal.
by UnknownUnicorn890690
SGD/JPY 1H Chart: Points to possible declineThe Singapore Dollar has been appreciating against the Japanese Yen for the past few weeks. The pair breached a senior channel late in March and has since reached the upper boundary of a shorter-term descending channel. If looking from a longer perspective, this pattern resembles a range in which the rate has been bounded since early February. The Singapore Dollar was testing the upper boundary of this channel and the monthly R1 at 82.00 late on Tuesday. The given resistance pressured the rate lower back down to the 55– and 100-hour SMA at 81.60. The diminishing trading range in the most junior channel suggests that the rate could respect the 82.00 level and thus edge lower towards the 23.60% Fibonacci retracement and the monthly PP at 80.80 during the following week. This decline might continue even further down to a ten-month low of 79.50.
Short
by UnknownUnicorn890690
SGD/JPY up trendHello traders, I am a noobie in trading. I am interested in Forex as a start to my trading. I have been looking at SGD/JPY rates for the last weeks as I am travelling to Japan end of March. My question is when do I buy my JPYs. I added the resistance and support line on the chart above. My first thought is that the up trend maybe turning bearish. Maybe I should buy it soon before the SGD weakens further. Would love to hear some of the more knowledgable traders here cheers Dr. Espinha
Long
by Espinha
SGD/JPY 1H Chart: Bearish sentiment allaysThe Singapore Dollar is moving lower against the Japanese Yen in a channel down. This movement south began on February 2 when the pair bounced off the upper boundary of a more senior channel down. The rate has failed to breach the combined support of the weekly S1 and the 38.20% Fibo retracement at 80.83, thus diminishing its trading range within the junior pattern. This suggests that the prevailing bearish sentiment might finally allay and therefore allows bulls to regain some lost positions. In order to do so, the Singapore Dollar has to surpass the resistance of the 55– and 100-hour SMAs and the upper channel line at 81.20 and 81.40, respectively. This could sent the pair for a test of the 82.20 or 82.70 areas within the following two weeks. On the other hand, further downward pressure from the 55-hour SMA might dominate until the senior channel circa 80.20 is reached. This pattern is expected to hold strong, thus allowing for a subsequent surge.
Long
by UnknownUnicorn890690
SGD/JPY 4H Chart: Singapore Dollar tests long-term channelThe dominant long-term pattern which as confined SGD/JPY since mid-2016 is an ascending wedge. This long-term pattern is mentioned because the rate bounced of its lower boundary on Tuesday. Thus, the Singapore Dollar’s attempt to reach the bottom line of a five-week channel was stopped near 82.60. The rate has since edged slightly higher during the previous session; however, the rate still faces several noteworthy resistance areas, such as the 55-hour SMA and the 38.20% Fibo at 83.30 and the monthly PP, the 23.6% Fibo and the 200-hour SMA circa 83.45, that are likely to hinder the pair for a brief period of time. These barriers, however, should eventually surrender and allow the pair to initiate a medium-term surge. A possible target for the following week could be the psychological 84.00 level.
Long
by UnknownUnicorn890690
SGD/JPY 1H Chart: Possible change in sentimentSGD/JPY was trading in a channel up for two months prior to breaching this pattern to the downside. The pair subsequently fell down to 83.40 and has since remained slightly above this mark. The current movement sideways suggests that a surge might be due in the nearest time. This assumption could be confirmed if the Singapore Dollar fails to breach the combined support of the monthly S1 circa 83.30 during this week. The nearest upside target is the 200-hour SMA and the weekly PP near 84.20, while the rate might push towards the monthly and weekly R1s at 85.00 during the following week or two. Its positioning suggests that a surge might follow in the medium term, thus setting the upper wedge boundary circa 85.60 as a possible target.
by UnknownUnicorn890690
SGD/JPY 1H Chart: Rate tests short-term channelA pattern that has dominated the SGD/JPY currency pair since late April is an ascending wedge. It seems that the maturity of this pattern could be reached within the following weeks, thus pointing to a possible breakout south. In the short term, the Singapore Dollar bounced off the upper wedge boundary early in November and has since edged lower; thus, another formation—a more chaotic channel down—is apparent on the chart. This pattern is guiding the pair towards the lower wedge boundary in the 81.90/82.20 area. The given channel is expected to dominate, thus pointing to weakening during the following week. The nearest support is the 200-hour SMA, the weekly and monthly PPs circa 83.20. The Singapore Dollar might hinder near this mark, but should eventually breach it and approach the weekly and monthly S1s at 82.50.
by UnknownUnicorn890690
SGD/JPY 1H Chart: Several patterns at playThe pair’s movement has been guided by several patterns, the most eminent of which are a long-term ascending wedge (valid since mid-2016) and two shorter-term patterns—a channel up and descending wedge. The Singapore Dollar bounced off the upper line of all three patterns on October 25 when it found the resistance of the weekly R1 at 83.74 and is now weakening against the Yen in the previously-mentioned descending wedge. It should also be noted that the pair breached a three-month channel up last Friday. This factor together with characteristics of the junior wedge suggest that the pair might form a retracement near the 83.50/60 mark prior to resuming its movement down to the lower channel boundary circa 82.60/80. Given that the rate faces a significant resistance area set by the 55-, 100– and 200-hour SMAs and the weekly PP, the rate might not even gain enough strength for the retracement, thus continuing to trade lower both in short- and medium term.
Short
by UnknownUnicorn890690
SGD/JPY 1H Chart: Channel DownFollowing a five-week appreciation against the Japanese Yen that resulted in the formation of a rising wedge, the Singapore Dollar breached the given pattern to the downside. Consequently, the last wave downwards formed a short-term channel down in which the rate has been trading since. From theoretical point of view, the Singapore Dollar should make a retracement from the bottom wedge boundary prior to edging lower. This level intersects with the 200-hour SMA circa 81.90 and the upper channel line that is likely to function as a reversal point. From the downside, the pair is supported by the 100– and 55-hour SMAs at 81.72 and 81.62, accordingly. However, it is expected that the Singapore Dollar surpasses these levels and tries to test the bottom channel boundary in the 81.20/80.90 area.
Short
by UnknownUnicorn890690