FX.co ★ CAD/JPY upside continuation from above 100.30

CAD/JPY up channel

The CAD/JPY pair registered a strong growth after dropping a little in the short term. The rate retreated a little within a minor down channel pattern, which represents an upside continuation pattern.

It was trading at 100.37 at the time of writing, far above Friday's low of 99.24 level. Breaking above the minor downtrend line signaled an upside continuation. Now, it has passed above the previous high of 100.30 which represented an upside obstacle.

CAD/JPY trading conclusion

The current breakout through 100.30 validates further growth and represents a new buying opportunity.