SGD/JPY may rise 76 - 106 pips

Our pivot point stands at 111.42.

Our preference

The upside prevails as long as 111.42 is support.

Alternative scenario

Below 111.42, expect 110.91 and 110.61.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 111.54 and 111.49).

Supports and resistances

113.52 **

113.21 *

112.91 **

112.61

111.85 last

111.62

111.42 **

110.91 *

110.61 **

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