| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
The SGD/JPY currency pair has been trading within a falling wedge pattern since the beginning of April. The pair has already declined below 75.50.
From a theoretical point of view, it is likely that the exchange rate could continue to trade downwards within the given pattern in the medium term. In this case the rate could decline below 74.50 by the beginning of June.
However, note that the currency pair would have to surpass the support level—the monthly S1 at 74.64. If the given level holds, it is likely that a reversal north could occur, and pair could raise to the 77.00 mark.