CAD/JPY intraday: as long as 102.79 is support look for 104.32

Our pivot point is at 102.79.

Our preference: as long as 102.79 is support look for 104.32.

Alternative scenario: the downside breakout of 102.79 would call for 102.29 and 102.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (103.29) but above its 50 period moving average (103.04).

Supports and resistances:

104.91 **

104.61 *

104.32 **

104.02

103.28 last

102.99

102.79 **