SGD/JPY may fall 53 - 76 pips

Our pivot point is at 115.35.

Our preference

The downside prevails as long as 115.35 is resistance.

Alternative scenario

Above 115.35, look for 115.74 and 115.97.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 115.28 and 115.61).

Supports and resistances

115.97 **

115.74 *

115.35 **

115.20

114.96 last

114.43

114.20 **

113.96 *

113.73 **

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