A Great Weekly Forecast and Technical Analysis for SGDJPY

2019년 10월 29일

Midterm forecast:
78.70 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 77.10 on 10/03/2019, so more gains to resistance(s) 79.75, 80.85, 81.65 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 68.

Trading suggestion:
By appearing primary signs of entering the market, new entry zone and short-term targets would be published.