CAD/JPY intraday: under pressure below 112.30
Our pivot point is at 112.30.
Our preference: under pressure below 112.30.
Alternative scenario: the upside breakout of 112.30, would call for 112.58 and 112.75.
Comment: the RSI is below its neutrality area at 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 trading under both its 20 and 50 period moving average (respectively at 112.02 and 111.98).
Supports and resistances:
112.75 **
112.58 *
112.30 **
112.19
111.94 last
111.55
111.38 **
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