Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Buy | Buy | Sell |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Neutral | Neutral | Neutral |
Alligator (13; 8; 5) | Buy | Buy | Sell |
SAR (0.02; 0.2) | Buy | Buy | Buy |
Aggregate | ⇗ | ⇗ | ⇒ |
The SGD/JPY currency pair has been trying to surpass the resistance level—the Fibonacci 50.00% retracement at the 82.68 mark.
Two scenarios likely. If given resistance level does not hold, it is likely that the exchange rate go upwards to re-test the upper boundary of a long-term descending channel located circa 83.20. Important level to look out for is the monthly R1 at 83.05.
Otherwise, a reversal south might occur in the nearest future. A potential downside target is the Fibonacci 39.70% retracement at 80.61.