CADJPY Buy signal initiated. Channel Up intact.

The CADJPY pair extended the Channel Up flawlessly and hit our latest Target (April 02, see chart below):

The price is now breaking above the short-term Ascending Triangle, which within the long-term Channel Up has always issued a buy signal after the price approached the 0.382 Fibonacci retracement level. The immediate Target on both previous break-outs has bee the -0.382 Fib extension.

The 1D RSI is also posting that pre break-out consolidation. As a result we turn bullish again on this pair, targeting 116.500 (slightly below the -0.382 Fib).

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