CAD/JPY has been locked inside a huge triangle consolidation since November 2007.
Wave (A) decline from the high of 125.56 to a low of 68.37 in January 2009. Wave (B) was a time-consuming zig-zag that rallied from 68.37 to 106.51 in December 2014. From this high wave (C) lower to 74.82 followed and since that low wave (D) higher to 96.92 has been developing.
Once wave (D) is in place a final zig-zag decline should be seen in wave (E) to complete the huge triangle consolidation.
For now let's concentrate on the rally higher to 96.92 in wave (D).
Wave (A) decline from the high of 125.56 to a low of 68.37 in January 2009. Wave (B) was a time-consuming zig-zag that rallied from 68.37 to 106.51 in December 2014. From this high wave (C) lower to 74.82 followed and since that low wave (D) higher to 96.92 has been developing.
Once wave (D) is in place a final zig-zag decline should be seen in wave (E) to complete the huge triangle consolidation.
For now let's concentrate on the rally higher to 96.92 in wave (D).