SGD/JPY may rise 53 - 76 pips

113.98 is our pivot point.

Our preference

Rebound towards 115.10.

Alternative scenario

Below 113.98, expect 113.60 and 113.37.

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 stands below its 20 and 50 period moving average (respectively at 114.40 and 114.55).

Supports and resistances

115.57 **

115.34 *

115.10 **

114.87

114.34 last

114.14

113.98 **

113.60 *

113.37 **

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