SGD/JPY may rise 57 - 85 pips

Our pivot point is at 114.64.

Our preference

Rebound towards 115.92.

Alternative scenario

Below 114.64, expect 114.17 and 113.89.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 115.09 and 115.15).

Supports and resistances

116.48 **

116.20 *

115.92 **

115.64

115.07 last

114.82

114.64 **

114.17 *

113.89 **

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