SGD/JPY may fall 62 - 92 pips

111.93 is our pivot point.

Our preference

The downside prevails as long as 111.93 is resistance.

Alternative scenario

Above 111.93, look for 112.44 and 112.74.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 111.85 and 112.16).

Supports and resistances

112.74 **

112.44 *

111.93 **

111.73

111.37 last

110.75

110.45 **

110.15 *

109.84 **

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