Indicator | 4H | 1D | 1W |
---|---|---|---|
MACD(12;26;9) | Buy | Buy | Sell |
RSI(14) | Neutral | Neutral | Neutral |
Stochastic(5;3;3) | Neutral | Neutral | Neutral |
Alligator(13;8;5) | Buy | Buy | Sell |
SAR(0.02;0.2) | Buy | Sell | Buy |
Aggregate | ⇗ | ⇒ | ⇒ |
The SGD/JPY exchange rate has been trading downwards within a descending channel since the beginning of June.
From a theoretical point of view, it is likely that the currency pair could continue to decline within the given channel in the medium term. In this case the pair could decline below the 77.00 level by the end of July.
Meanwhile, note that the exchange rate is supported by the 55-, 100– and 200-hour SMAs. Thus, a breakout north from the channel could occur in the nearest future, and the rate could target the psychological level at 79.00.