SGD/JPY may rise 68 - 99 pips

Our pivot point stands at 113.82.

Our preference

As long as 113.82 is support look for 115.23.

Alternative scenario

The downside breakout of 113.82 would call for 113.29 and 112.98.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (114.27) but above its 50 period moving average (114.09).

Supports and resistances

115.86 **

115.54 *

115.23 **

114.92

114.24 last

114.02

113.82 **

113.29 *

112.98 **

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