SGD/JPY may rise to 120.24 - 122.24

112.83 is our pivot point.

Our preference

As long as 112.83 is support look for 122.24.

Alternative scenario

Below 112.83, expect 109.50 and 107.51.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (115.71) but above its 50 period moving average (114.24).

Supports and resistances

126.24 **

124.24 *

122.24 **

120.24

115.47 last

114.14

112.83 **

109.50 *

107.51 **

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