SGD/JPY may fall to 109.83 - 111.34

Our pivot point is at 117.43.

Our preference

The downside prevails as long as 117.43 is resistance.

Alternative scenario

The upside breakout of 117.43, would call for 119.99 and 121.51.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 117.10 and 116.89).

Supports and resistances

121.51 **

119.99 *

117.43 **

116.42

115.20 last

111.34

109.83 **

108.32 *

106.81 **

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