CAD/JPY may fall 75 - 112 pips

108.75 is our pivot point.

Our preference

Target 107.13.

Alternative scenario

Above 108.75, look for 109.36 and 109.73.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (108.33) but above its 50 period moving average (108.23).

Supports and resistances

109.73 **

109.36 *

108.75 **

108.51

108.25 last

107.50

107.13 **

106.77 *

106.40 **

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