CAD/JPY may rise to 112.89 - 115.08

Our pivot point is at 105.04.

Our preference

The upside prevails as long as 105.04 is support.

Alternative scenario

Below 105.04, expect 101.38 and 99.20.

Comment

The RSI is above 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 106.57 and 107.57).

Supports and resistances

119.46 **

117.27 *

115.08 **

112.89

107.97 last

106.47

105.04 **

101.38 *

99.20 **

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