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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.

DateOctober 22, 2019 - 18:27
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 78.700 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 77.10 on 10/03/2019, so more gains to resistance(s) 79.75, 80.85, 81.65 and more heights is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 69.