SGD/JPY may rise 33 - 49 pips

Our pivot point is at 118.36.

Our preference

The upside prevails as long as 118.36 is support.

Alternative scenario

Below 118.36, expect 118.10 and 117.94.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 118.51 and 118.39).

Supports and resistances

119.37 **

119.21 *

119.06 **

118.90

118.57 last

118.46

118.36 **

118.10 *

117.94 **

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