CADJPY Strong buy at the bottom of the 2-year Channel Up

Last time we gave a signal on the CADJPY pair (July 09, see chart below), we got the sell we wanted, as a brutal collapse started straight after:

This time we get a strong buy signal as the price is rebounding after a Double Bottom on the Higher Lows trend-line of the 2-year Channel Up. This is similar to the January - March Double Bottom, which until now, has been the strongest long-term buy signal on the pair.

Once the price breaks above the 1D MA50 (blue trend-line), we will have the buy confirmation we need to target the 0.9 Fibonacci level (like June 23 2023) at 117.100.

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