CAD/JPY may fall 56 - 81 pips

115.00 is our pivot point.

Our preference

Under pressure below 115.00.

Alternative scenario

Above 115, look for 115.42 and 115.67.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 114.81 and 114.67).

Supports and resistances

115.67 **

115.42 *

115.00 **

114.84

114.65 last

114.09

113.84 **

113.59 *

113.34 **

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