CAD/JPY may rise 63 - 95 pips

Our pivot point stands at 108.25.

Our preference

Rebound towards 109.66.

Alternative scenario

Below 108.25, expect 107.72 and 107.40.

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 108.71 and 108.75).

Supports and resistances

110.30 **

109.98 *

109.66 **

109.34

108.71 last

108.46

108.25 **

107.72 *

107.40 **

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