SGD/JPY may rise to 115.52 - 117.67

Our pivot point stands at 107.81.

Our preference

Rebound towards 117.67.

Alternative scenario

The downside breakout of 107.81 would call for 104.22 and 102.08.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (111.06) but under its 50 period moving average (114.85).

Supports and resistances

121.97 **

119.82 *

117.67 **

115.52

111.15 last

109.22

107.81 **

104.22 *

102.08 **

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