How SGDJPY will trade in the futureThis is a forecast, as it develops i will update the charts in case of any adjustment. Thank you for your support.
JPYSGD trade ideas
Is SGDJPY Giving Us A Short Set Up?I already have a long term view on this in the related ideas already, so this is just an update. Its a short term sell which will eventually become a long term trade. This structure once broken, drops like a rocket. Thank you for the support.
SGDJPY Sell SetupHello everyone, if you like the idea, do not forget to support with a like and follow.
on DAILY: SGDJPY is sitting around the upper brown trendline so we will be looking for sell setups on lower timeframes.
on M30: SGDJPY is forming a channel pattern in red so we are waiting for a new swing to form around it to consider it objective/valid.
Trigger: Waiting for a momentum candle close below the gray area to sell.
and until the sell is activated, this one would be overall bullish and can still break above the brown trendline to test the 79.0 green resistance before going down.
As price approaches our lower blue support and lower brown trendline, we will be looking for buy setups.
Good luck!
SGDJPY continue consolidatingIf SGDJPY will start growing, we can open long position. Our first target is 80.50 and second target is 85.30 and last one is 91.50 good luck
RectangleRectangles and horizontal tchannels and can break either way..similar to a symmetrical triangle in that respect..it is most often a continuation pattern..
Targets for a break to the upside and to the downside are listed..
Mid rectangle (MR) can be a possible stop either way
Not a recommendation
SGDJPY video top-down AnalysisHello everyone, if you like the idea, do not forget to support with a like and follow.
Here is the top-down analysis for SGDJPY, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
SGDJPY LONG on DailyEntry @ 77.35
SL @ 77.00 (35 pips)
TP @ 77.80 (35 pips)
RR = 2.1
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Early TP: 77.70 (RR = 1)
Sgd/JPY a whole lotta room for down pressure.Opened in Asian session. I see this currency pair and others weakening against JPY . Riding this one down to highlighted zone. No guessing here , just looking at what the technicals are telling me. Will tp if situation reverses. Enjoy your trading !
Thanks for viewing ! This is not financial advice please consider your own Due Diligence and Risk Management.
SGDJPY for longSGDJPY this market I was on a short for the run down and now am adding more to my long positions for the run up come join in if you see it.
SGD JPY BUY (SINGAPORE DOLLAR - JAPANESE YEN)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to complete the pattern and watch strong price action for buy.
SGDJPY is likely to rise to 78.800 -weekly chart no interferenceSGDJPY is likely to rise to 78.800 as the trend stops on the weekly chart.
SGDJPYI might regret this, but I'm not taking this entry. Initial reaction was that we had broken down from the TL and was resting. But looking at other pairs and the 5m detail, i'm not sure if bulls have stepped in here to run it higher. Most other JPY pairs are showing bullishness right now due to yen weakness, but SGD is holding steady. Still if we were to enter and be stopped out I'd be really upset given we had reservations before entering.
Conversely if this does break down and go to target it will be tough not generating some nice profit.
I'm cautious though after the missed USDCAD trade earlier that would have worked out great, that we're chasing something right now....don't want to make an emotional play, so for better or worse, we're on the bench right now!
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 SWING LONGWith this pair having completed an impulse and correction on the weekly chart, we can look forward to the next swing leg in the market; which should be an ATTEMPT by the pair to create another impulse and a higher high on the weekly chart.
On the daily chart, this pair has just broken (and closed) above previous resistance; thus presenting a good opportunity to enter a long on this pair. If we get a retracement to test this area (which also has a confluence of the daily 61.8% fib, taken from the low of the circled red candle), it should act as support for the pair, then we can be searching for entries on lower time frames while the pair is in and around the area.
