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Weekly forecast Singapore Dollar / Japanese Yen technical chart

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Trading suggestion:

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

DateDecember 7, 2019 - 20:40
Forecastcontinuation of uptrend
Last weekBearish

Midterm forecast:

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

Technical analysis:

  • While the RSI support #1 at 44 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 80.60 on 10/30/2019, so more losses to support(s) 79.30 and minimum to Major Support (78.70) 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 51.