The Singapore Dollar has been appreciating against the Japanese Yen within the ascending channel since the beginning of March.
As apparent on the chart, the SGD./JPY exchange rate reversed north from the lower channel line at the beginning of April. Thus, from a theoretical point of view, it is likely that some upside potential could prevail in the market, as the rate could should target the upper channel line in the 78.00 area.
If the given channel holds, it is likely that the currency pair could continue to extend gains within it in the medium term.
