CAD/JPY intraday: above its upper Bollinger band

Trading Central 2020-11-19 18:30:06

Our pivot point stands at 79.02.

Our preference: our next up target stands at 80.02.

Alternative scenario: below 79.02, expect 78.68 and 78.48.

Comment: the RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the pair is above its 20 and 50 MAs (respectively at 79.31 and 79.39). Finally, the CAD/JPY is trading above its upper Bollinger band (standing at 79.39).

Supports and resistances:

80.42 **

80.22 *

80.02 **

79.81

79.40 last

79.15

79.02 **

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. TOP1 accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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