SGD/JPY Forecast and Live Chart

The Singapore Dollar/Japanese Yen currency pair (also referred to as SGDJPY and SGD/JPY) is an exotic currency pair. In this article, we will examine how SGDJPY is performing.

SGDJPY Key Stats

2021 high: 85.45
2021 low: 77.79
YTD high: 106.29
YTD low: 84.19
YTD % change: +22.28%

SGDJPY Forecast

The SGDJPY has been on a tremendous run since the beginning of the pandemic, climbing over 24% in the last 12 months and over 22% in 2022. Given the current economic climate, that rise may well continue longer. However, in order for the JPY to strengthen, we may need to see the BoJ raise interest rates which is something they will probably not do. As a result, we see the pair reaching its most recent high of 106.29 once again in the near term.

SGDJPY Fundamental Analysis

Fundamental analysis is an excellent tool in helping forex traders define potential long-term trends in a pair such as the SGD/JPY. The current economic situation in both Singapore and Japan has resulted in one currency strengthening and the other weakening. There are various factors to watch out for when it comes to fundamental analysis, such as interest rates, inflation, unemployment, spending data, and more.

If we look at the Singapore Dollar, we can see it has been a favored choice for offshore investors as it has a growing financial centre and stable housing prices. Its high growth rate is due to its business-friendly regulatory environments for entrepreneurs. In addition, it is a significant trading hub, and its manufacturing and services sector remains one of its pivotal growth drivers. As a result, assessing Singapore’s current economic climate to develop a bearish or bullish bias on its currency is a great way to evaluate the direction the currency could trade in.

Due to its low rates, which the BoJ has decided to keep low, the JPY is a valuable funding source for investments in other countries. As a result, during times of economic uncertainty, investors typically reduce their holdings of riskier, higher-yielding assets, which helps the JPY. However, that hasn’t been true recently. While the currency has been a safe haven in years gone by, the Japanese yen has weakened significantly in 2022. This has been fuelled by the Bank of Japan sticking to its low interest rate policy despite rising inflation. Inflation for Japan currently sits at 3%, yet rates remain unchanged, as they have done for many years, at -0.1%.

SGDJPY Technical Analysis

Technical analysis can help traders to enter, manage and exit trades based on how price moves. And so, it is best to use both technical and fundamental analysis together, although many traders will only stick to one.

The SGDJPY has been on a major bull run, as explained above. It is currently trading above its 100 MA on the daily chart, which has previously acted as a support level for potential pullbacks, providing a possible area to look for a bullish move. In addition, the price is creating a bull flag, so a break higher is not out of the question. To the upside from here, 105.45 is a level to watch for a potential break, and to the downside, we have our eyes on 102.90.

Trade SGD/JPY with our top brokers

Broker	Features	Regulator	Platforms	Next Step
74% of retail CFD accounts lose money Founded: 2014 74% of retail C...	Well regulated Ultra-fast and high leverage trading Spreads as low as 0.0 pips Comprehensive research tools Relatively limited number of markets Does not accept US traders Read Tickmill Review	FSA SC	MT4, MT5	Sign Up TEST TICKMILL Read Tickmill Review
Your capital is at risk Founded: 2014	User-friendly platform with great trade-analysis tools Leverage Up To 1:500 Spreads as low as 0.00 pips Quality trade execution thanks to high-spec IT infrastructure $0 minimum account opening balance 26,000 tradeable instruments Not available in all jurisdictions Regulatory infrastructure Read BlackBull Markets Review	FSPR	MT4	Sign Up OPEN FREE DEMO ACCOUNT Read BlackBull Markets Review
Your capital is at risk Founded: 2006 Europe* CFDs ar...	Multi-asset broker offering a wide variety of markets Strong regulatory framework Innovative risk management tools Choice of market-leading platforms Wide spreads on some markets Expiry date on Demo Accounts Read AvaTrade Review	ASIC, FSA, FSB, MiFID	MetaTrader4, Sirix, AvaOptions, AvaTrader, Mirror Trader	Sign Up OPEN FREE DEMO ACCOUNT Read AvaTrade Review
Between 74-89% of CFD traders lose Founded: 2010 Between 74-89 % of retail investor accounts lose money when trading CFDs	Low trading costs Great market flow Research and analysis which helps spot trades Wide range of Copy and Social Trading options Limited range of non-forex markets Read Pepperstone Review	ASIC, FCA	MetaTrader 4, MetaTrader 5, cTrader	Sign Up OPEN FREE DEMO ACCOUNT Read Pepperstone Review
77% of CFD traders lose Founded: 2007 77 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.	Social and Copy Trading Platform Beginner Friendly Risk-free Demo Account Top-tier regulation Limited means of raising queries Withdrawal process isn’t really ‘client-focused’ Read eToro Review	ASIC, CySEC, FCA	eToro Platform	Sign Up OPEN FREE DEMO ACCOUNT Read eToro Review
Your capital is at risk Founded: 2009, 2015, 2017	Low minimum deposit Super- tight bid-offer spreads Impressive trading platforms Tier-1 regulators Difficult to contact tech support No Crypto Read XM Group Review	ASIC, CySEC, IFSC	MT4 Terminal, MT4 for Mac, Web Trader, iPhone/iPad Trader, Droid Trader, Mobile Trader, MT5	Sign Up OPEN FREE DEMO ACCOUNT Read XM Group Review
Your capital is at risk Founded: 2006	Very well regulated Comprehensive education section Fantastic customer service No cryptocurrencies Fees could be more competetive Read FxPro Review	CySEC, DFSA, FCA, FSB, SIA	MetaTrader4, MetaTrader5, cTrader, FxPro Edge (Beta)	Sign Up OPEN FREE DEMO ACCOUNT Read FxPro Review

Forextraders' Broker of the Month

BlackBull Markets is a reliable and well-respected trading platform that provides its customers with high-quality access to a wide range of asset groups. The broker is headquartered in New Zealand which explains why it has flown under the radar for a few years but it is a great broker that is now building a global following. The BlackBull Markets site is intuitive and easy to use, making it an ideal choice for beginners.