SGD/JPY may rise to 120.28 - 122.19

Our pivot point stands at 113.72.

Our preference

The upside prevails as long as 113.72 is support.

Alternative scenario

The downside breakout of 113.72 would call for 110.50 and 108.59.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 115.08 and 113.89).

Supports and resistances

126.03 **

124.11 *

122.19 **

120.28

116.40 last

114.98

113.72 **

110.50 *

108.59 **

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