SGD/JPY may fall 64 - 94 pips

114.32 is our pivot point.

Our preference

The downside prevails as long as 114.32 is resistance.

Alternative scenario

Above 114.32, look for 114.83 and 115.12.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 114.04 and 114.13).

Supports and resistances

115.12 **

114.83 *

114.32 **

114.13

113.90 last

113.26

112.96 **

112.66 *

112.37 **

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