CAD/JPY may fall to 107.69 - 109.64

Our pivot point is at 117.40.

Our preference

Target 107.69.

Alternative scenario

Above 117.40, look for 120.73 and 122.70.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (114.38) but above its 50 period moving average (113.21).

Supports and resistances

122.70 **

120.73 *

117.40 **

116.10

113.60 last

109.64

107.69 **

105.73 *

103.77 **

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