🟢 SGDJPY - 4H (09.11.2022)🟢 SGDJPY
TF: 4H
Side: Long
SL: ¥103.727
Entry: ¥104.02
TP 1: ¥104.254
TP 2: ¥104.471
TP 3: ¥104.740
SGD is gaining strength as JPY is going through correction.
Sgdjpyanalysis
SGDJPY $SGDJPY Continuation LongSGDJPY $SGDJPY Continuation Long. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
SGDJPY $SGDJPY Initial LongSGDJPY $SGDJPY Initial Long. SL and TP on chart. 10-30x leverage. Move SL on TP.
SGDJPY Monthly OutlookSGDJPY trend is bullish, we can expect sell from Monthly Fresh Supply, After sell entry we can sell it till the lower Demand.
SGDJPY buyAfter a successful trade that I signaled, now it's time to buy. I marked the zone earlier, the price is already there. I opened a position and designated 2 zones for TP
SGDJPY buyI marked the short zone and gave the signal. The price did not reach the marked zone. It was a trade inconsistent with the higher interval. Hope you made your money and you closed your position. Now I have marked a buy zone and I am waiting for a signal from the chart
SGDJPY shortI'm short from the top, the price has returned to the short zone and you can join the trade. I marked place and price for TP.
Fundamental Analysis of SGD/JPYThe Preliminary Japanese GDP for the second quarter decreased by 7.8% quarterly and by 27.8% annualized. Economists predicted a lower of seven.6% and 27.2% annualized. Foreign exchange merchants can evaluate this to the Japanese GDP for the primary quarter, which decreased by 0.6% quarterly and by 2.2% annualized. Preliminary Personal Consumption for the second quarter decreased by 8.2% quarterly, preliminary Capital Expenditure decreased by 1.50% quarterly, and preliminary Exterior Demand decreased by 3.0% quarterly. Economists predicted a lower of seven.1%, 4.2%, and three.2%. Foreign exchange merchants can evaluate this to Personal Consumption for the second quarter, which decreased by 0.8% quarterly, to Capital Expenditure, which elevated by 1.7% quarterly, and to Exterior Demand, which decreased by 0.2% quarterly.
Closing Japanese Industrial Manufacturing for June elevated by 1.9% month-to-month and decreased by 18.2% annualized. Economists predicted a rise of two.7% and a lower of 17.7%. Foreign exchange merchants can evaluate this to Japanese Industrial Manufacturing for Could, which decreased by 8.9% month-to-month and by 26.3% annualized. Capability Utilization for June elevated by 6.2% month-to-month. Foreign exchange merchants can evaluate this to Capability Utilization for Could, which decreased by 11.6% month-to-month.
The Singapore Commerce Steadiness for July was reported at $3.300B. Foreign exchange merchants can evaluate this to the Singapore Steadiness for June, reported at $4.990B. Non-Oil Exports for July elevated by 1.2% month-to-month and by 6.0% annualized. Foreign exchange merchants can evaluate this to Non-Oil Exports for June, which decreased by 1.4% month-to-month, and which elevated by 13.9% annualized.
The forecast for the SGD/JPY stays bearish amid the widening Covid-19 pandemic, which retains safe-haven demand for a slowly rising development as soon as once more. As extra world financial knowledge is launched, the situation is worse than initially anticipated.
SGDJPY Divergence
1. 8 Ema has crossed over 21 ema
2. Price action has broke the 50 EMA
3. TDI showing some bearish signals on the RSI
4. Trendline broken
5. If you switch to 4 hour chart you are able to see that price action shows some rejection of major structure.
6. Divergence on both 1 HR and 4HR chart. More prominent on 1HR chart.
7. Breaks Asian Range
**RR could be better
Apologies for the late post...
SGDJPY ONE MORE DROP AFTER CONSOLIDATION?1. Finally a close outside trendline and triangle
2. Previous 3 times price action has not been able to close outside the trendline.
3. Broke inner shorterm support as well with lower low of candle price action
4. Good risk reward
5. RSI crossed below 50 as well
SGDJPY technically based forecast
📌Short intro:
I am full time trader - analyst * High accuracy of ideas * Technicaly and Fudnamentaly side in analysis * Comment if have any questions or want to send support * Price action - FIBO - Candl pattern * FX - STOCK - CRYPTO * Simple ideas
💡 SGDJPY technicaly based idea, we can see price is bounce from bottom trend line, technicaly indicators showing we can expect higher recovery phase, candels foramtion strong bulish, expecting to see push up in price till top trend line.
📌Have on mind, trading involves risk, check idea on your own tactic, if have questions pls comment!
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All best, good luck!
