CAD/JPY may rise to 113.42 - 116.10

103.49 is our pivot point.

Our preference

Rebound towards 116.10.

Alternative scenario

Below 103.49, expect 99.04 and 96.38.

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 under both its 20 and 50 period moving average (respectively at 109.24 and 113.16).

Supports and resistances

121.46 **

118.78 *

116.10 **

113.42

107.57 last

105.24

103.49 **

99.04 *

96.38 **

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