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Weekly forecast Singapore Dollar / Japanese Yen technical chart

Trading suggestion:

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

DateDecember 4, 2021 - 20:29
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 85.170, resumption of downtrend is expected.
  • We make sure when the support at 81.350 breaks.
  • If the resistance at 85.170 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of resumption of downtrend is increased.
  • A peak is formed in daily chart at 84.30 on 11/25/2021, so more losses to support(s) 81.90 and minimum to Major Support (81.35) 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 33.

Supports and Resistances:

  1. 85.17
  2. 81.35
  3. 80.90
  4. 80.40
  5. 79.85
  6. 78.60
  7. 76.20
  8. 74.25
Click on the level to view price action history.