CADJPY: Prices Stalling Inside Rising Channel, Buy on Retracement

[B]My picks:[/B] Long CADJPY (Pending)
[B]Expertise: [/B]Global Macro, Classic Technical Analysis
[B]Average Time Frame of Trades: [/B]1 week - 6 months

CADJPY has been trending higher in a well-defined rising channel since January. Prices are now stalling in the middle of the formation and three back-to-back Star candlesticks indicative of indecision. Look for a pullback to the channel bottom near 81.00 to enter long to trade with the next leg of the uptrend.