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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.

DateNovember 9, 2019 - 18:14
Currentuptrend
Forecastcontinuation of uptrend
Last weekBullish

Midterm forecast:

  • 78.70 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 peak is formed in daily chart at 79.95 on 10/30/2019, so more losses to support(s) 79.75 and minimum to Major Support (78.70) 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 64.