SGD/JPY may rise 31 - 46 pips

Our pivot point stands at 119.07.

Our preference

The upside prevails as long as 119.07 is support.

Alternative scenario

Below 119.07, expect 118.82 and 118.67.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 119.10 and 119.13).

Supports and resistances

120.09 **

119.94 *

119.80 **

119.65

119.34 last

119.17

119.07 **

118.82 *

118.67 **

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