CAD/JPY has been bearish throughout 2015 and 2016 so far. It went form a height of 106.50 in late 2014 to a low of 75.40 by the end of September. Even after such a drastic slide, the downtrend is still intact. If CAD/JPY is still bearish in the long-term, we might look at the rally in this couple of weeks as an opportunity to sell on a rally. CAD/JPY Daily Chart 10/5(click to enlarge)Breakout and pullback to key resistance:- Note that there was a triangle consolidation from June to September.- Price then broke below this triangle and made new lows on the year, - After finding buyers at 75.40, price rallied last week and into this week, pushing above 78.00 today (10/5). - I think as price approaches 79.00, there could be lots of resistance.- Here, price will be challenged by a falling trendline, the one that formed the previous triangle.- We also will see a previous;y common support pivot tested as resistance. - Finally, note that the RSI will be around 60, which is where it has topped off throughout 2016. Let's keep our eye on this pair because it could be a candidate to sell on this bounce around 79.00.