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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.

DateFebruary 8, 2020 - 23:53
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 81.800, resumption of downtrend is expected.
  • We make sure when the support at 78.600 breaks.
  • If the resistance at 81.800 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 79.85 on 02/05/2020, so more losses minimum to Major Support (78.60) 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 31.