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Weekly forecast Singapore Dollar / Japanese Yen technical chart

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (81.90 to 82.20). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (81.90)
  • Ending of entry zone (82.20)

DateSeptember 12, 2021 - 08:15
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 83.05, beginning of downtrend is expected.
  • We make sure when the support at 79.85 breaks.
  • If the resistance at 83.05 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 81.93 on 09/08/2021, so more losses to support(s) 81.35, 80.90, 80.40 and minimum to Major Support (79.85) 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 60.

Take Profits:

  1. 81.35
  2. 80.90
  3. 80.40
  4. 79.85
  5. 78.60
  6. 76.20
  7. 74.25
Click on the level to view price action history.