SGD/JPY may rise 34 - 48 pips

117.39 is our pivot point.

Our preference

Rebound towards 118.12.

Alternative scenario

Below 117.39, expect 117.14 and 117.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 117.74 and 117.91).

Supports and resistances

118.41 **

118.27 *

118.12 **

117.98

117.64 last

117.49

117.39 **

117.14 *

117.00 **

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