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CAD/JPY intraday: the downside prevails as long as 109.54 is resistance

2023-10-23
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Our pivot point is at 109.54.

Our preference: the downside prevails as long as 109.54 is resistance.

Alternative scenario: the upside breakout of 109.54, would call for 109.84 and 110.02.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 109.31 and 109.36).

Supports and resistances:

110.02 **

109.84 *

109.54 **

109.42

109.30 last

108.90

108.72 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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