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SGD/JPY TECHNICAL OUTLOOK

TARGET: 81.070
SGD/JPY HAS ITS NEXT RESISTANCE NEAR 82.358.
TOOLS USED: ICHIMOKU, TREND, PRICE ACTION EMA CROSSOVER, LONGER TERM SUPPORT RESISTANCE
CHARTS: WEEKLY AND MONTHLY
WEEKLY CHART:
MONTHLY CHART:
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VAIBS1991 26 Jan.

Industiral production in Singapore rose unexpectedly in December 2016. In a report today, Statistics Singapore said that Singaporean Industrial Production rose to an annual rate of 21.3%, from 11.8% in the preceding month whose figure was revised down from 11.9%. Analysts had expected Singaporean Industrial Production to fall to 9.5% last month.

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VAIBS1991 30 Jan.

There are very important events this week which will highly impact the valuations of SGD/JPY. The much anticipated Federal Reserve Rate Decision is on Wednesday February 1st 2016 which is also our contest's final day. The Federal Reserve is not expected to take action on interest rates at the conclusion of its two-day policy meeting. The Fed indicated last month that at least three rate increases were in the offing for 2017. However, traders remained unconvinced. Instead, markets are pricing in just two rate hikes during the course of this year, according to CME group's FedWatch Tool.

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Predicting SGD/JPY

SGD/JPY is in consolidation phase since touching the low of 72.35 on 23 June 2016 the day of brexit. The level 72.35 is also 61.8 Fibonacci Retracement of previous rally from the low of 57.9 touched in September 2011 to the high of 92.8 touched in June 2015. It is finding a good support in the range of 73.5-74 for last three months. There is also a upside break of trend line coming in the last week October 2016. I am expecting it to rally towards 77.4 in coming two months.
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mermaid 8 Nov.

Будем надеяться,что Ваш прогноз правилен.

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