CAD/JPY may rise 61 - 92 pips

Our pivot point is at 107.88.

Our preference

Rebound towards 109.24.

Alternative scenario

Below 107.88, expect 107.37 and 107.06.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 108.34 and 108.60).

Supports and resistances

109.84 **

109.54 *

109.24 **

108.93

108.32 last

108.08

107.88 **

107.37 *

107.06 **

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