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.
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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