SGD/JPY may fall 32 - 47 pips

119.52 is our pivot point.

Our preference

Target 118.85.

Alternative scenario

The upside breakout of 119.52, would call for 119.77 and 119.92.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (119.36) but above its 50 period moving average (119.31).

Supports and resistances

119.92 **

119.77 *

119.52 **

119.42

119.32 last

119.00

118.85 **

118.71 *

118.56 **

Number of asterisks represents the strength of support and resistance levels.