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CAD/JPY ST: the upside prevails as long as 110.25 is support

2024-04-09
401

Our pivot point is at 110.25.

Our preference: the upside prevails as long as 110.25 is support.

Alternative scenario: the downside breakout of 110.25 would call for 108.28 and 107.10.

Comment: the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 111.31 and 110.86).

Supports and resistances:

117.83 **

116.65 *

115.47 **

114.29

111.83 last

111.03

110.25 **

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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