SGD/JPY may fall 65 - 97 pips

Our pivot point stands at 112.42.

Our preference

Under pressure below 112.42.

Alternative scenario

Above 112.42, look for 112.95 and 113.26.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 112.11 and 111.97).

Supports and resistances

113.26 **

112.95 *

112.42 **

112.21

111.93 last

111.28

110.96 **

110.65 *

110.33 **

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