⬤ CAD/JPY keeps climbing on the 4-hour chart, following a clean Elliott Wave pattern that's been playing out since early November. The pair moved up steadily from around the 106.00–107.00 area all the way toward 114.00–115.00, gaining nearly 800 pips in a controlled advance rather than wild, choppy swings. Long positions entered earlier in the trend have now shifted into low-risk territory, showing just how strong this move has been.
⬤ The chart shows a clear sequence of higher highs and higher lows, with wave labels tracking each impulse phase along the way. After accelerating through the 107.00 zone, momentum carried price toward 115.00 before starting to cool off. The recent pullback looks corrective—not impulsive—suggesting the pair is consolidating gains rather than reversing course.
⬤ An invalidation level sits near 106.19, well below current prices, which confirms the broader bullish structure remains solid. Price is trading within an ascending channel that contains both the rally and the pullback, showing orderly market participation. Even as it eases back toward 113.00, CAD/JPY continues respecting rising support levels, keeping the wave count intact and the uptrend firmly in place.
⬤ This behavior matters for forex traders because CAD/JPY often signals shifts in risk appetite and demand for commodity currencies. A sustained climb within a structured wave pattern points to disciplined positioning rather than speculative noise. As long as price holds above key support, this trend shows how directional momentum can persist while allowing healthy pullbacks that don't threaten the bigger picture.
