SGD/JPY may rise 57 - 86 pips

Our pivot point stands at 115.66.

Our preference

As long as 115.66 is support look for 116.91.

Alternative scenario

The downside breakout of 115.66 would call for 115.19 and 114.90.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 116.03 and 115.95).

Supports and resistances

117.47 **

117.19 *

116.91 **

116.62

116.05 last

115.84

115.66 **

115.19 *

114.90 **

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