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Weekly forecast Singapore Dollar / Japanese Yen technical chart
Symbol SGDJPY

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateJanuary 25, 2020 - 21:47
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 79.300, resumption of uptrend is expected.
  • We make sure when the resistance at 81.800 breaks.
  • If the support at 79.300 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 79.50 on 01/08/2020, so more gains to resistance(s) 80.95 and maximum to Major Resistance (81.80) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 46.