| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Sell | Buy |
| Alligator (13; 8; 5) | Buy | Sell | Sell |
| SAR (0.02; 0.2) | Buy | Buy | Sell |
| Aggregate | ⇒ | ⇘ | ⇒ |
The SGD/JPY currency pair reversed north from the lower boundary of the long-term descending channel located circa 79.00 at the beginning of January.
From a theoretical point of view, it is expected that the exchange rate targets the upper channel line located circa 83.15.
However, technical indicators for the short run suggest bearish scenario. Also, given that the pair is being pressured by the 55-period SMA (4H), it is likely that the rate re-tests the lower channel line.
If given channel does not hold, a breakout south occurs within following trading sessions. Potential downside target is the Fibonacci 23.60% retracement at 77.38.