🟢 SGDJPY - 4H (09.11.2022)🟢 SGDJPY
TF: 4H
Side: Long
SL: ¥103.727
Entry: ¥104.02
TP 1: ¥104.254
TP 2: ¥104.471
TP 3: ¥104.740
SGD is gaining strength as JPY is going through correction.
Sgdjpybreakout
SGDJPY Is on a Bearish Move
Welcome back Traders, Investors, and Community!
Hi Traders, SGDJPY on H4 is on a strong Bearish move after the Support breakout, it might go up to around 80.89 before it goes down.
⬇️Sell now or Sell at 80.89
⭕️SL @ 81.28
✅TP1 @ 80.04
✅TP2 @ 79.81
✅TP3 @ 79.68
We will have more FREE forecasts in TradingView soon
❤️ Your Support is really appreciated!❤️
Have a Profitable Day
Fundamental Analysis of SGD/JPYThe Preliminary Japanese GDP for the second quarter decreased by 7.8% quarterly and by 27.8% annualized. Economists predicted a lower of seven.6% and 27.2% annualized. Foreign exchange merchants can evaluate this to the Japanese GDP for the primary quarter, which decreased by 0.6% quarterly and by 2.2% annualized. Preliminary Personal Consumption for the second quarter decreased by 8.2% quarterly, preliminary Capital Expenditure decreased by 1.50% quarterly, and preliminary Exterior Demand decreased by 3.0% quarterly. Economists predicted a lower of seven.1%, 4.2%, and three.2%. Foreign exchange merchants can evaluate this to Personal Consumption for the second quarter, which decreased by 0.8% quarterly, to Capital Expenditure, which elevated by 1.7% quarterly, and to Exterior Demand, which decreased by 0.2% quarterly.
Closing Japanese Industrial Manufacturing for June elevated by 1.9% month-to-month and decreased by 18.2% annualized. Economists predicted a rise of two.7% and a lower of 17.7%. Foreign exchange merchants can evaluate this to Japanese Industrial Manufacturing for Could, which decreased by 8.9% month-to-month and by 26.3% annualized. Capability Utilization for June elevated by 6.2% month-to-month. Foreign exchange merchants can evaluate this to Capability Utilization for Could, which decreased by 11.6% month-to-month.
The Singapore Commerce Steadiness for July was reported at $3.300B. Foreign exchange merchants can evaluate this to the Singapore Steadiness for June, reported at $4.990B. Non-Oil Exports for July elevated by 1.2% month-to-month and by 6.0% annualized. Foreign exchange merchants can evaluate this to Non-Oil Exports for June, which decreased by 1.4% month-to-month, and which elevated by 13.9% annualized.
The forecast for the SGD/JPY stays bearish amid the widening Covid-19 pandemic, which retains safe-haven demand for a slowly rising development as soon as once more. As extra world financial knowledge is launched, the situation is worse than initially anticipated.
SGDJPY Divergence
1. 8 Ema has crossed over 21 ema
2. Price action has broke the 50 EMA
3. TDI showing some bearish signals on the RSI
4. Trendline broken
5. If you switch to 4 hour chart you are able to see that price action shows some rejection of major structure.
6. Divergence on both 1 HR and 4HR chart. More prominent on 1HR chart.
7. Breaks Asian Range
**RR could be better
Apologies for the late post...
SGD/JPY, open entry after range break outI will open buy when the price will break out a range
The best entry will be when 1 or 4-hour candle will close above 80.23 as confirmation
Incoming Drop SGD/JPYAS long as the current candle doesn't close above 82~82.10 then the move down is valid.
SGD/JPYSGD/JPY has broken its 50 EMA on the 4H chart.
As long as it hold as resistance, we can see SGD/JPY to drop further more.
Trade safe.
