CAD/JPY may rise 61 - 89 pips

Our pivot point stands at 113.79.

Our preference

The upside prevails as long as 113.79 is support.

Alternative scenario

Below 113.79, expect 113.31 and 113.03.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 113.94 and 113.98).

Supports and resistances

115.65 **

115.37 *

115.08 **

114.80

114.19 last

113.97

113.79 **

113.31 *

113.03 **

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