CAD/JPY may rise 80 - 117 pips

Our pivot point is at 107.60.

Our preference

Rebound towards 109.26.

Alternative scenario

Below 107.60, expect 106.99 and 106.62.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 108.12 and 108.34).

Supports and resistances

109.99 **

109.62 *

109.26 **

108.89

108.09 last

107.84

107.60 **

106.99 *

106.62 **

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