SGD/JPY may rise 61 - 89 pips

113.72 is our pivot point.

Our preference

Our next up target stands at 115.02.

Alternative scenario

Below 113.72, expect 113.24 and 112.95.

Comment

The RSI is above 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 113.97 and 114.09).

Supports and resistances

115.60 **

115.31 *

115.02 **

114.74

114.13 last

113.91

113.72 **

113.24 *

112.95 **

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