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CAD/JPY intraday: the downside prevails as long as 110.48 is resistance
2024-03-07
982
Our pivot point stands at 110.48.
Our preference: the downside prevails as long as 110.48 is resistance.
Alternative scenario: the upside breakout of 110.48, would call for 110.77 and 110.94.
Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 110.30 and 110.42).
Supports and resistances:
110.94 **
110.77 *
110.48 **
110.36
110.19 last
109.81
109.63 **
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