SGD/JPY may fall 61 - 91 pips

114.62 is our pivot point.

Our preference

Target 113.22.

Alternative scenario

Above 114.62, look for 115.12 and 115.42.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (114.23) but above its 50 period moving average (114.06).

Supports and resistances

115.42 **

115.12 *

114.62 **

114.42

114.13 last

113.52

113.22 **

112.92 *

112.62 **

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