CAD/JPY ST: as long as 106.27 is support look for 111.71


Our pivot point is at 106.27.
Our preference: as long as 106.27 is support look for 111.71.
Alternative scenario: below 106.27, expect 104.32 and 103.16.
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 107.76 and 107.12).
Supports and resistances:
114.04 **
112.87 *
111.71 **
110.54
108.06 last
107.04
106.27 **
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