FX.co ★ CAD/JPY: upside continuation pattern

CAD/JPY Uptrend!

The currency pair is located at 110.68 at the time of writing. As you can see on the H1 chart, the rate continues to stay above the uptrend line, so it could extend its growth anytime. You knew from my previous analysis that only dropping and stabilizing below it invalidates further growth.

It's trapped between 110.86 and 110.53 levels. This range could represent an upside continuation formation as the rate tries to attract more buyers before jumping higher.

CAD/JPY Trading Conclusion!

Staying above the uptrend line and jumping beyond 110.86 activates further growth.