After looking at MYR, now the question is, "is SGD all right?"

After checking on SGDMYR last week, I was curious if it was MYR strengthening against SGD or it is SGD that grew weaker. It might therefore good to check on other currency pairs involving SGD.

The most important component is USDSGD or SGD. My last check on this component was in FD in USD with 3.6% interest, go for it? on 7th December 2025, that was quite recent. 

At the time, while USD seemed to be strengthening against SGD, I believed that it was a correction phase of a downward move. SGD reached its 55-week moving average at the time. I believe that it would reverse and continue its downslide thereafter with support at between SGD1.24438 to SGD1.2701.

Fig 1. SGD weekly chart

USDSGD indeed continued on its downslide upon touching the 55-week moving average. 

At this point of time, it has reached the said support level, reaching a low of 1.25865 and closing at 1.26753 this week. Its gradient of decline is similar to that of prior decline. Further to that it has just broken the previous lows of 1.27889 on 22nd September 2024 and 1.26981 on 29th June 2025.

At the same time, I am seeing a Doji and bars start overlapping on decline, there may be a short-term correction, especially when it is at its 61.8% projection support now.

So, how shall I estimate its future moves?

First, a correction upward. At the same time, its decline has not yet completed. 

It is possible for USDSGD to correct again with its resistance at its 8-week moving average of 1.27440 follow by its 55-week moving average of 1.29682. 

On continuation, I am seeing support at its major 61.8% projection of 1.24494. Breaking this, its next support will be its 100% projection level of 1.20538. I believe this will be a stronger support level and it may be the level that USDSGD reverses. This is where the 100% projection of both minor and major projection coincide.

Now let's move on to SGDJPY, my last update on this component was Monetary intervention on SGD and a case for the currency on 16th October 2022. I am surprised that it was that long. 

At the time, I estimated that SGD would strengthen against JPY with an objective of about 107 Yen per SGD. Apparently, it went further than that.

Fig 2. SGDJPY weekly chart

The chart of SGDJPY is quite messy, I assume data inaccuracy as the reason. I will avoid the super long tails to ignore the noises as such.

Even so. It can be seen that SGDJPY reached a high of120.016 on 9th July 2024 before correction.

The thing here is that it has just crossed its 100% minor projection and resisted by its 127% projection right now. Coincidentally, it is also at its 61.8% of its major projection.

It gained multiple support at its 55-week moving average and its Bollinger envelope before its continuation. Since then, it managed to reach new highs with its highest at 124.426 before congesting at its 8-week moving average. 

I believe it may further correction with next support at its 21-week moving average of 120.485, breaking this will lead to the next support of 55-week moving average at 117.3622.

On continuation, it will reach yet new high with first resistance at its 161% minor projection of 125.9501, breaching this will see further resistance at its 100% major projection of 131.733. 

In conclusion, SGD should stay strong. It also means that Malaysia's economy is improving since MYR is strengthening against SGD.