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SGD/JPY

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SGDJPY trade ideas

SGDJPY Swing Trading OpportunityHi everyone, SGDJPY has just formed a bearish butterfly harmonic pattern on the 1-hour timeframe with significant confluence as price-action has reached the upper resistance level of SGDJPY's current ascending channel. The potential reversal zone (PRZ) is comprised of 3 ratios: 4.23 BC projection at 81.813 1.618 XA projection at 81.793 3.14 alternate AB=CD at 81.776. Stop loss is set at the 2.0 XA projection, or 82.034. Take profit is set at two levels, management and final. The management level is the 0.382 AD retracement, or 81.406 The final level is the 0.618 AD retracement, or 81.168 The terminal price bar has just formed, confirming all three ratios. Price is also trading in an ascending channel that has formed as of the 8th of January, and the terminal price bar has not only confirmed the PRZ of the butterfly pattern but also reached the upper resistance level of the channel, creating a strong indication of a possible reversal downwards to occur. RSI has also reached overbought territory on the 4-hour, indicating a long term overbought state of the pair. As always, analyze price action as well for more confluence of a reversal! Thanks for reading, Kevin
Short
by Kevin_Zhang
2
Possible Short position SGD/JPYSELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1 Day Actions on - A – Activating Event Currency Pair creating a Double Top . B – Beliefs Market will be rejected at @80.300 level and move towards the first Target 1 level @ 79.750 FX:EURCAD Trade Management Entered @ Still waiting for confirmation. Stop Loss @ Still waiting for confirmation. Target 1 @79.750 Risk/Reward @ 2:21 Happy trading. Will let you know closer to the time if or when executed:) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
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
Possible Short Position SGD/JPYSELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1 Day Actions on - A – Activating Event Currency Pair creating a Double Top . B – Beliefs Market will be rejected at @82.37 level and move towards the first Target 1 level @ 82.00 level. FOREXCOM:SGDJPY Trade Management Entered @ Still waiting for confirmation. Stop Loss @ Still waiting for confirmation. Target 1 @82.00 Risk/Reward @ 2:1 Happy trading. Will let you know closer to the time if or when executed:) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
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
SGDJPY :Will it goes higher or lower?Did this out of a favour of a friend who is going to Japan, well can this work? Of course, it does. Not only the knowledge of analysing the chart can be used on trading, but it also can be used on our daily lives, from when is a better time to do your exchange to when you make your online shopping purchase and even use a better time to pay your suppliers/ importing or exporting products for your business. So, my analysis goes, the breaking and closing above of the candle(while) on this chart(Daily Chart) is critical to make the decision if the exchange has to be made before 2 Nov. If the candle, break above and close above the box(white candle) the likelihood it will reach 82.51 is high, if not, this will be the good time to exchange. Let's see how the candle close today and I will update the group tomorrow. Subscribe to our channel or source of this information to find out more.
Long
by RaynLim
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