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CAD/JPY intraday: as long as 110.60 is support look for 111.47

2024-03-04
1075

Our pivot point stands at 110.60.

Our preference: as long as 110.60 is support look for 111.47.

Alternative scenario: the downside breakout of 110.60 would call for 110.31 and 110.13.

Comment: the RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 110.82 and 110.57).

Supports and resistances:

111.82 **

111.64 *

111.47 **

111.29

110.93 last

110.72

110.60 **

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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