CADJPY found resistance against its 7 year highs
The monthly chart provides an extensive amount of information that combined with a shorter time frame, could provide more meaningful tactical positioning.
In this case, the pair found resistance against the top reached on December 2015, but managed to rise above the 61.8% Fibonacci level
103.55 of the Nov 2007 - Jan 2009 downtrend. A consolidation above 106.5 is needed before to see another bullish leg, but possible to see also some selling pressure that could bring the pair to test 103.6 and then 100.
In this case, the pair found resistance against the top reached on December 2015, but managed to rise above the 61.8% Fibonacci level
103.55 of the Nov 2007 - Jan 2009 downtrend. A consolidation above 106.5 is needed before to see another bullish leg, but possible to see also some selling pressure that could bring the pair to test 103.6 and then 100.
Penafian
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