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Weekly forecast Singapore Dollar / Japanese Yen technical chart
Symbol SGDJPY

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (74.90 to 74.25). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (74.90)
    • Support on 08/26/2019
    • Resistance on 03/12/2020
    • Support on 03/30/2020
    • Support on 04/03/2020
    • Support on 04/21/2020
    • Support on 05/08/2020
    • Support on 05/14/2020
  • Ending of entry zone (74.25)
    • Support on 03/12/2020
    • Support on 03/16/2020
    • Support on 03/17/2020
    • Support on 03/18/2020
    • Support on 04/01/2020
    • Support on 04/02/2020

DateAugust 15, 2020 - 18:12
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 75.950, beginning of uptrend is expected.
  • We make sure when the resistance at 78.600 breaks.
  • If the support at 75.950 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI bounced from the support #1 at 37 and it prevented price from more losses.
  • A trough is formed in daily chart at 75.95 on 07/31/2020, so more gains maximum to Major Resistance (78.60) 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 63.

Take Profits:

  1. 76.65
  2. 77.10
  3. 78.60
  4. 80.15
  5. 81.80
  6. 83.05
  7. 85.25
Click on the level to view price action history.