FX.co ★ CAD/JPY: 109.02 as key upside obstacle

CAD/JPY New Uptrend!

The CAD/JPY pair passed above the downtrend line signaling a larger growth. The downtrend line represented an upside obstacle. Now, is almost to reach the 109.02 former high. This is seen as the next upside obstacle.

The uptrend line represents a downside obstacle, so as long as it stays above it, the price could extend its growth.

CAD/JPY Trading Conclusion!

CAD/JPY could resume its growth if it jumps and stays above 109.22. This scenario could bring us a new buying opportunity. As long as it stays above the uptrend line, the pair could approach and reach the 110.47 higher high.