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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 19, 2020 - 12:39
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 80.950, resumption of uptrend is expected.
  • We make sure when the resistance at 83.050 breaks.
  • If the support at 80.950 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) 81.65 and maximum to Major Resistance (83.05) 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 70.