SGD/JPY may fall to 111.17 - 112.79

118.75 is our pivot point.

Our preference

Under pressure below 118.75.

Alternative scenario

The upside breakout of 118.75, would call for 121.49 and 123.13.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 117.93 and 116.48).

Supports and resistances

123.13 **

121.49 *

118.75 **

117.68

116.06 last

112.79

111.17 **

109.54 *

107.92 **

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