SGD/JPY 4H Chart: Pair revealed long-term descending trend

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Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuySellSell
SAR(0.02;0.2)SellBuySell
Aggregate⇒⇒⇘

[ANNOUNCE] The SGD/JPY currency pair revealed a long-term descending channel. [/ANNOUNCE] 

From a theoretical point of view, it is likely that the exchange rate could target the upper channel line located circa 78.00 within the following trading sessions. Then, a reversal south could occur. 

In the meantime, note that the currency pair is pressured by the 55-, 100– and 200-period moving averages in the 76.80/77.20 area. Thus, a breakout south could occur, and the pair could target the psychological level at 75.00.

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