SGD/JPY may rise 58 - 86 pips

Our pivot point is at 114.29.

Our preference

As long as 114.29 is support look for 115.52.

Alternative scenario

Below 114.29, expect 113.83 and 113.55.

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 (114.67) but above its 50 period moving average (114.50).

Supports and resistances

116.07 **

115.80 *

115.52 **

115.24

114.66 last

114.47

114.29 **

113.83 *

113.55 **

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