CAD/JPY may rise 31 - 44 pips.

CAD/JPY may rise 31 - 44 pips.

Our pivot point is at 112.24.

Our preference : The upside prevails as long as 112.24 is support Alternative scenario Below 112.24, expect 112.03 and 111.91.

Comment : The RSI is above its neutrality area at 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 112.33 and 112.30).

Finally, the CAD/JPY is trading above its upper Bollinger band (standing at 112.49).