CAD/JPY intraday: the downside prevails as long as 103.91 is resistance

Trading Central 2025-05-22 12:18:05

Our pivot point stands at 103.91.

Our preference: the downside prevails as long as 103.91 is resistance.

Alternative scenario: above 103.91, look for 104.46 and 104.79.

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 is trading under both its 20 and 50 period moving average (respectively at 103.60 and 103.62).

Supports and resistances:

104.79 **

104.46 *

103.91 **

103.70

103.44 last

102.76

102.43 **

Disclaimer
The trading strategy containing reference trading prices and analysis opinions is provided by the third-party provider Trading Central.And the trading strategy is only the personal research and judgment by analysts,which is not a statement of facts.No representation or warranty is given as to the accuracy or completeness of this strategy. Consequently any person acting on it does so entirely at their own risk. Our company accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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