| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Neutral | Buy | Buy |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The SGD/JPY currency pair reversed south from strong resistance level formed by the Fibonacci 50.00% retracement at the 82.68 mark at the beginning of March.
Currently, the exchange rate is testing resistance cluster formed by a combination of the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 81.95/82.24 range. If given resistance cluster holds, it is likely that the pair continues to decline. Important level to look out for is the monthly S1 at 81.20.
Otherwise, it is expected that the rate surpasses given cluster and re-tests the Fibonacci 50.00% retracement. If given level does not hold, the rate reaches the upper boundary of the long-term descending channel located circa 83.00.