CAD/JPY may rise to 114.29 - 115.47
BY Trading Central
|April 9, 2024ST: the upside prevails as long as 110.25 is support
Our pivot point is at 110.25.
Our preference
The upside prevails as long as 110.25 is support.
Alternative scenario
The downside breakout of 110.25 would call for 108.28 and 107.10.
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 111.31 and 110.86).
Supports and resistances
117.83 **
116.65 *
115.47 **
114.29
111.83 last
111.03
110.25 **
108.28 *
107.10 **
Number of asterisks represents the strength of support and resistance levels.
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