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CAD/JPY intraday: the upside prevails as long as 107.42 is support
2023-09-12
238
107.42 is our pivot point.
Our preference: the upside prevails as long as 107.42 is support.
Alternative scenario: the downside breakout of 107.42 would call for 106.93 and 106.64.
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 107.68 and 107.71).
Supports and resistances:
109.33 **
109.04 *
108.74 **
108.45
107.85 last
107.61
107.42 **
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