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CAD/JPY ST: above its upper Bollinger band

2024-04-23
387

111.54 is our pivot point.

Our preference: the upside prevails as long as 111.54 is support.

Alternative scenario: the downside breakout of 111.54 would call for 109.84 and 108.83.

Comment: the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 111.94 and 111.24). Finally, the CAD/JPY is trading above its upper Bollinger band (standing at 112.83).

Supports and resistances:

118.19 **

117.17 *

116.16 **

115.14

113.02 last

112.20

111.54 **

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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