CAD/JPY may fall to 99.11 - 101.71

111.22 is our pivot point.

Our preference

The downside prevails as long as 111.22 is resistance.

Alternative scenario

Above 111.22, look for 115.63 and 118.26.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 111.02 and 113.71).

Supports and resistances

118.26 **

115.63 *

111.22 **

109.49

107.54 last

101.71

99.11 **

96.50 *

93.90 **

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