SGD/JPY may fall 72 - 103 pips

Our pivot point stands at 113.85.

Our preference

The downside prevails as long as 113.85 is resistance.

Alternative scenario

The upside breakout of 113.85, would call for 114.37 and 114.68.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 113.44 and 113.54).

Supports and resistances

114.68 **

114.37 *

113.85 **

113.64

113.41 last

112.69

112.38 **

112.07 *

111.76 **

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