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CAD/JPY intraday: the downside prevails as long as 109.03 is resistance
2023-10-05
794
Our pivot point stands at 109.03.
Our preference: the downside prevails as long as 109.03 is resistance.
Alternative scenario: the upside breakout of 109.03, would call for 109.31 and 109.48.
Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 108.81 and 108.89).
Supports and resistances:
109.48 **
109.31 *
109.03 **
108.93
108.73 last
108.40
108.24 **
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