| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Neutral | Buy |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The Singapore Dollar continued to appreciate against the Japanese Yen within the rising wedge pattern. As apparent on the chart, the SGD/JPY currency pair has already reversed north from the lower pattern line.
From a theoretical point of view, it is likely that some upside potential could prevail in the market, as the exchange rate should target the upper pattern line located in the 81.50/82.00 range.
However, note that the expected advance might not be immediate, as the currency pair would have to surpass the resistance level formed by the Fibonacci 39.70% retracement at 80.61. If the given level holds, the pair could breach the given pattern south.