CAD/JPY may rise 35 - 52 pips

115.45 is our pivot point.

Our preference

Rebound towards 116.28.

Alternative scenario

The downside breakout of 115.45 would call for 115.16 and 114.99.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (115.76) but under its 50 period moving average (116.03).

Supports and resistances

116.62 **

116.45 *

116.28 **

116.11

115.76 last

115.56

115.45 **

115.16 *

114.99 **

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