CAD/JPY Long intraday May rise 52-76 PIPS
108.77 is our pivot point.
Our preference:
as long as 108.77 is support look for 109.88.
Alternative scenario:
the downside breakout of 108.77 would call for 108.36 and 108.12.
Comment:
the RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 109.06 and 108.97).
Our preference:
as long as 108.77 is support look for 109.88.
Alternative scenario:
the downside breakout of 108.77 would call for 108.36 and 108.12.
Comment:
the RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 109.06 and 108.97).
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