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CAD/JPY ST: as long as 107.52 is support look for 112.88

2023-10-24
938

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 **

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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