CADJPY is falling from the higher high zone of the Uptrend line

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.

Japan Consumer spending low Unhappy bankrupt woman with empty wallet

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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