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Yen Capitulation Sends GBPJPY to 17-Year Peak – 212.60 Next? 
- USD/SGD is currently trading around 1.3614 marks.
- It made intraday high at 1.3626 and low at 1.3602 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3622 mark.
- A daily close above 1.3622 will test key resistances at 1.3654, 1.3678, 1.3699 and 1.3732 levels respectively.
- Alternatively, a consistent close below 1.3622 will drag the parity down towards key support at 1.3551/1.3502/1.3430/1.3390/1.3307 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Singapore will release industrial output data at 0500 GMT.
We prefer to take long position on USD/SGD around 1.3610, stop loss 1.3577 and target of 1.3678.
