CADJPY Analysis
CADJPY is moving in a strong bullish trend for a long time.
Now the market starts to fall from the higher high zone of the uptrend line.
The market is going under a retracement and correction mode.
After the confirmation of the downtrend movement, the CADJPY sell signal is given.
CADJPY has reached the take profit successfully.
Japan Yen faces worst loss and now it’s making a correction
Japanese Yen makes the worst loss versus US Dollar in the past 3 months of 4% decline.
This is because Japanese consumer spending and retail sales fell to -1.5%, Household spending and average cash earnings at -5.0% and -0.5%, respectively.
And this scenario is a big blow for the Japanese Yen, which results in the decline of domestic data.
Vaccination is also a backlog for Japan, and soon the process started may recover the negative numbers to positive numbers in Domestic data.
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