| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
Last week, the SGD/JPY exchange rate breached the long-term descending channel south. Currently, the rate is trading at the 76.50 level.
Given that the currency pair is pressured by the 55-, 100– and 200-hour moving averages, currently located in the 76.84/76.25 range, it is expected, that some downside potential could prevail in the market. In this case, the pair could target the Fibonacci 0.00% retracement at 72.64.
It is unlikely, that bulls could prevail in the market in the nearest future, and the Singapore Dollar could exceed the 78.00 mark against the Japanese Yen due to the resistance level formed by the monthly R1.