SGD/JPY may fall 56 - 82 pips

109.62 is our pivot point.

Our preference

Target 108.18.

Alternative scenario

The upside breakout of 109.62, would call for 110.07 and 110.33.

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 pair is trading under its 20 period moving average (109.67) but above its 50 period moving average (108.89). Finally, the SGD/JPY has penetrated its lower Bollinger band (109.09).

Supports and resistances

110.33 **

110.07 *

109.62 **

109.45

109.00 last

108.44

108.18 **

107.92 *

107.65 **

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