CAD/JPY may rise 59 - 88 pips

110.64 is our pivot point.

Our preference

Rebound towards 111.93.

Alternative scenario

Below 110.64, expect 110.15 and 109.86.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (111.05) but below its 50 period moving average (111.23).

Supports and resistances

112.51 **

112.22 *

111.93 **

111.64

111.05 last

110.83

110.64 **

110.15 *

109.86 **

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