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SGD/JPY

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SGDJPY trade ideas

SGDJPY 31/5/2020SGDJPY has been trading in a trading range between 74.5 and 76 since mid-April. It looks like it has created a massive inverse head and shoulders inside the range that completed last Friday. The target of the head and shoulder is around 78 but there are few resistant zones along the way that might pause or stop the price from reaching the price target. Those levels are good to take some profit off or hedge your long trade if you want to swing trade this setup. (I'm going to analyze the price action around those levels if and when the price gets there.) Considering the general weakness of JPY, I believe there is a good chance for this setup to work out and hit some of the targets.
Long
by Trader_Shayan
Don't miss the great buy opportunity in SGDJPYTrading suggestion: . There is a possibility of temporary retracement to suggested support line (75.00). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . SGDJPY is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 40. Take Profits: TP1= @ 75.65 TP2= @ 76.10 TP3= @ 77.18 SL= Break below S2
Long
by ForecastCity
32
Don't miss the great buy opportunity in SGDJPYTrading suggestion: . There is a possibility of temporary retracement to suggested support line (75.00). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . SGDJPY is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 40. Take Profits: TP1= @ 75.65 TP2= @ 76.10 TP3= @ 77.18 SL= Break below S2
Long
by ForecastCity
35
SGDJPY technically based forecast 📌Short intro: I am full time trader - analyst * High accuracy of ideas * Technicaly and Fudnamentaly side in analysis * Comment if have any questions or want to send support * Price action - FIBO - Candl pattern * FX - STOCK - CRYPTO * Simple ideas 💡 SGDJPY technicaly based idea, we can see price is bounce from bottom trend line, technicaly indicators showing we can expect higher recovery phase, candels foramtion strong bulish, expecting to see push up in price till top trend line. 📌Have on mind, trading involves risk, check idea on your own tactic, if have questions pls comment! Thanks on supporting! All best, good luck!
by UnknownUnicorn3983388
2
Developing breakdownBreakdown is likely as we got DM breakdown qualifier 1 (prebreakout candle pullback - that green bullish weekly candle, then - the next bearish candle managed to close right on the trendline signifying strong bearish pressure. Current week's candle should be nice bearish breakdown candle). Intermediate target DM montly pivot. Ca. 53 pips. Long term target classic monthly S1. Top Absolute Correlation 1 SGDJPY - CADJPY 90.5% 2 SGDJPY - NZDJPY 87.3% 3 SGDJPY - SEKJPY 86.4% 4 SGDJPY - ZARJPY 85.6% 5 SGDJPY - AUDJPY 85.4% 6 SGDJPY - GBPCHF 84.6% 7 SGDJPY - JPN225 83.2% 8 SGDJPY - USDSGD -82.6% 9 SGDJPY - HK50.n 81.8% 10 SGDJPY - HK50 81.7%
Short
by ICFX
SGDJPY: Buy opportunity within the Bearish Megaphone.The pair is trading within a Bearish Megaphone on the 1W chart (RSI = 36.000, MACD = -0.990, ADX = 37.728) since the January 2018 High. At the moment it is consolidating below the 0.382 Fibonacci retracement level following the Lower Lowe made in early March. You can see that every Lower High made after a Lower Low, broke the 1W MA200 (orange trend line) and formed a top at least on the 0.618 Fibonacci retracement level from the previous (Lower) High. We are expecting a similar development. You may wait form the MACD bullish cross to confirm the movement. Our Target Zone is 78.500 - 79.500. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Long
by InvestingScope