| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇒ |
The Singapore Dollar has been depreciating against the Japanese Yen since the middle of January after the SGD/JPY currency pair failed to exceed the 82.00 level. Currently, the pair is trading in the 79.50 area.
Note that the exchange rate is pressured by the 55-, 100– and 200-hour SMAs, currently located in the 79.47 range. Thus, some downside potential could continue to prevail in the market, and the rate could target the Fibo 23.60% at 77.38.
However, note that the currency pair could gain support of the monthly S1 at 78.55. If the given level holds, it is likely that a reversal north could occur, and the pair could re-test the 82.00 level.