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...
If price moves to the 83.00 area, then I'll be looking for bear candles to post on the daily time frame. If I get bear candles posting on the daily time frame, then I'll move to the 1H chart to place sell limit orders at previous market levels.
If price moves to the 77.00 area, then I'll be looking to buy this pair. If this happens, then I'll be watching for bull candles to be posted on the daily time frame. Once I see a bull candle, then I'll move to the 1H time frame where I'll place buy limit orders at previous market levels.
The 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...
Hello 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...
The 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...
The 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...
SGD/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...
A 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...
The 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...
Following 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...