CAD/JPY may rise to 113.52 - 115.88

Our pivot point is at 104.93.

Our preference

The upside prevails as long as 104.93 is support.

Alternative scenario

Below 104.93, expect 100.99 and 98.65.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 106.13 and 108.12).

Supports and resistances

120.60 **

118.24 *

115.88 **

113.52

108.21 last

106.47

104.93 **

100.99 *

98.65 **

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