SGD/JPY 1H Chart: Short-term decline expected

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Neutral Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

Downside risks prevailed in the market, thus sending the Singapore Dollar 2.60% lower against the Japanese Yen.  

Given that the pair is pressured by the 200-period SMA (4H) at 81.96, the general direction is expected to remain south within the scope of the next week. Two important levels to look out for are the monthly S1 at 81.24 and the Fibonacci 39.80% retracement at 80.61. 

However, this decline might not be immediate, as some upside pressure is likely to push the exchange rate up to the the weekly R1 at 81.86.

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