SGD/JPY may rise 57 - 84 pips

Our pivot point stands at 110.77.

Our preference

As long as 110.77 is support look for 112.05.

Alternative scenario

Below 110.77, expect 110.32 and 110.05.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 111.19 and 110.95).

Supports and resistances

112.59 **

112.32 *

112.05 **

111.78

111.21 last

110.95

110.77 **

110.32 *

110.05 **

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