SGD/JPY may rise to 120.03 - 121.98

Our pivot point is at 113.23.

Our preference

The upside prevails as long as 113.23 is support.

Alternative scenario

Below 113.23, expect 109.96 and 108.02.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 114.75 and 113.40).

Supports and resistances

125.88 **

123.93 *

121.98 **

120.03

115.88 last

114.51

113.23 **

109.96 *

108.02 **

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