| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Sell | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇘ | ⇗ | ⇗ |
Last week, the SGD/JPY currency pair reached the upper boundary of the long-term descending channel located circa 82.50.
A apparent on the chart, the pair has already reversed south from the given boundary. Given that the exchange rate is pressured by the 55-, 100– and 200-hour SMAs, it is expected, that some downside potential prevails in the market.
Important support level to look out for is the monthly PP at 81.89. If the given support level holds, it is likely, that the rate reverses north to re-test the upper channel line.