CAD/JPY may rise to 113.03 - 115.68

Our pivot point is at 103.66.

Our preference

Rebound towards 115.68.

Alternative scenario

The downside breakout of 103.66 would call for 99.24 and 96.62.

Comment

The RSI is below 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 107.90 and 112.62).

Supports and resistances

120.96 **

118.32 *

115.68 **

113.03

107.61 last

105.39

103.66 **

99.24 *

96.62 **

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