Indicator | 4H | 1D | 1W |
---|---|---|---|
MACD(12;26;9) | Sell | Sell | Sell |
RSI(14) | Neutral | Neutral | Neutral |
Stochastic(5;3;3) | Buy | Neutral | Neutral |
Alligator(13;8;5) | Sell | Neutral | Sell |
SAR(0.02;0.2) | Sell | Buy | Sell |
Aggregate | ⇘ | ⇒ | ⇘ |
The Singapore Dollar has been appreciating gradually against the Japanese Yen since the beginning of June when the SGD/JPY currency pair reversed north from the lower boundary of the long-term descending channel 78.74.
From a theoretical point of view, it is likely, that the pair could maintain its growth. In this case, the exchange rate has to surpass the Fibonacci 39.70% retracement at 80.61. If the given level does not hold, the rate could reach the upper channel line located circa 82.80.
Otherwise, the pair could reverse south to re-test the lower channel line. It is unlikely, that a breakout south could occur due to the support level formed by the weekly S2 at 78.67.