SGD/JPY 4H Chart: Two scenarios likely

The SGD/JPY exchange rate continued to move within an ascending triangle pattern.  

From a theoretical perspective, it is likely that the currency pair could continue to trade sideways within the predetermined pattern in the medium term. 

Meanwhile, note that the exchange rate is supported by the 55-, 100– and 200-period moving averages. Thus, a breakout south could occur, and the rate could target the Fibo 39.70% at 80.61.