CAD/JPY intraday: rebound

Trading Central 2021-01-13 17:49:04

Our pivot point stands at 81.40.

Our preference: rebound.

Alternative scenario: the downside breakout of 81.40 would call for 81.20 and 81.08.

Comment: the RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (81.52) but below its 50 period moving average (81.60).

Supports and resistances:

82.21 **

82.09 *

81.97 **

81.85

81.59 last

81.48

81.40 **

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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