SGD/JPY may rise 59 - 88 pips

Our pivot point stands at 113.53.

Our preference

Our next up target stands at 114.85.

Alternative scenario

Below 113.53, expect 113.05 and 112.76.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 113.89 and 113.96).

Supports and resistances

115.42 **

115.14 *

114.85 **

114.56

113.97 last

113.72

113.53 **

113.05 *

112.76 **

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