CAD/JPY may fall 61 - 87 pips

Our pivot point is at 114.85.

Our preference

The downside prevails as long as 114.85 is resistance.

Alternative scenario

Above 114.85, look for 115.29 and 115.55.

Comment

The RSI is below its neutrality area at 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 114.59 and 114.82).

Supports and resistances

115.55 **

115.29 *

114.85 **

114.68

114.47 last

113.86

113.60 **

113.33 *

113.07 **

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