CAD/JPY may rise to 113.66 - 115.85

Our pivot point stands at 105.90.

Our preference

The upside prevails as long as 105.90 is support.

Alternative scenario

Below 105.90, expect 102.23 and 100.04.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 107.69 and 107.17).

Supports and resistances

120.24 **

118.05 *

115.85 **

113.66

109.11 last

107.34

105.90 **

102.23 *

100.04 **

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