CADJPY breakout in making
CADJPY is bouncing off the support and is breaking above 81.60. A confirmed break above 81.60 is required for an upside reversal and continuation higher. A rejection here and a break below 81 could lead to a reversal lower. The overall medium-term is uptrend but we need to see a confirmation break above 82 for an extension higher. As long as the CADJPY is above 81 there is a high probability that it will have an upside continuation.
Note – We are inclined to long trade entries with the stop loss below 81.
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