CAD/JPY may rise to 117.67 - 119.33

Our pivot point is at 111.90.

Our preference

As long as 111.90 is support look for 119.33.

Alternative scenario

Below 111.90, expect 109.12 and 107.47.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (114.38) but above its 50 period moving average (113.43).

Supports and resistances

122.65 **

120.99 *

119.33 **

117.67

114.33 last

112.99

111.90 **

109.12 *

107.47 **

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