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CAD/JPY ST: as long as 107.52 is support look for 112.88
2023-10-24
855
Our pivot point stands at 107.52.
Our preference: as long as 107.52 is support look for 112.88.
Alternative scenario: below 107.52, expect 105.62 and 104.49.
Comment: the RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (109.43) but above its 50 period moving average (108.82).
Supports and resistances:
115.15 **
114.01 *
112.88 **
111.75
109.25 last
108.26
107.52 **
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