CADJPY Analysis
CADJPY price at the major resistance in the higher timeframe weekly chart
In the 4-hour timeframe, CADJPY is falling from the retest area of the broken ascending channel
After the confirmation of the Downward movement, the CADJPY Sell signal was given.
CADJPY Update
CADJPY is trying to retest the horizontal resistance area and consolidating at the retest area of the broken ascending channel, which leads to the SL price. However, CADJPY still have chances to fall from the retest area
Reason : Due to the release of more Economic news mentioned below, the market is not making technical movement for now.
Today, Japan’s deputy governor announced that No interest rate will be raised in the near future, and due to this, the JPY will become weaker today.
The Bank of Japan Deputy Governor Shinichi Uchida said further developments in the economy are based on inflation and wage growth only. We will terminate YCC, but it does not mean stopping purchasing bonds. Once we achieve standard 2% inflation in line with higher wage growth, then only we shift policy to the Positive side from the current negative side. Due to these reasons, JPY suddenly starts to get weaker again.
Canada Trade Balance
Japan Adjusted Current Account
Japan Current Account n.s.a.
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