SGD/JPY may rise 57 - 84 pips

Our pivot point stands at 115.71.

Our preference

Our next up target stands at 117.00.

Alternative scenario

Below 115.71, expect 115.24 and 114.97.

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 trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 116.09 and 116.09).

Supports and resistances

117.55 **

117.28 *

117.00 **

116.73

116.16 last

115.89

115.71 **

115.24 *

114.97 **

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