After forming a double bottom near 75.50 area, CAD/JPY went up sharply and broke above the descending channel. Currently it corrected back to retest the upper trend-line channel, which should act as a support.
Consider buying CAD/JPY while the rate is near 78.60, targeting 161.8% Fibs (82.60). The suggested stop loss is 78.40.
Support: 78.60
Resistance: 82.60
