SGD/JPY may rise 32 - 48 pips

116.86 is our pivot point.

Our preference

The upside prevails as long as 116.86 is support.

Alternative scenario

Below 116.86, expect 116.60 and 116.45.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 116.99 and 116.94). Finally, the SGD/JPY is trading above its upper Bollinger band (standing at 117.08).

Supports and resistances

117.91 **

117.76 *

117.61 **

117.45

117.13 last

116.96

116.86 **

116.60 *

116.45 **

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