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CAD/JPY intraday: under pressure below 112.30

2024-04-18
973

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 **

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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