SGD/JPY may rise 65 - 96 pips

Our pivot point is at 110.93.

Our preference

Our next up target stands at 112.45.

Alternative scenario

Below 110.93, expect 110.41 and 110.09.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 111.39 and 111.46).

Supports and resistances

113.08 **

112.76 *

112.45 **

112.14

111.49 last

111.14

110.93 **

110.41 *

110.09 **

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