CAD/JPY may rise 65 - 97 pips

Our pivot point is at 109.19.

Our preference

Rebound towards 110.60.

Alternative scenario

Below 109.19, expect 108.66 and 108.34.

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 is trading above its 20 period moving average (109.59) but under its 50 period moving average (109.82).

Supports and resistances

111.24 **

110.92 *

110.60 **

110.28

109.63 last

109.40

109.19 **

108.66 *

108.34 **

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