CADJPY: JPY Weakness Supported by Election Uncertainty
Fundamental Analysis:
JPY weakness is supported by the following news:
Prime Minister Sanae Takaichi, who is running in a snap election that she is widely expected to win this Sunday, sparked a sell-off in the yen earlier this week after a campaign speech in which she touted the benefits of a weaker currency.
Technical Analysis:
On the other hand, CADJPY is rising within an expansionary pattern and is likely to move higher this time. Considering that many JPY pairs are already coming off all-time highs, it is likely that CADJPY will do the same.
Key Targets:
114.58
115.17
116.00
You may find more details in the chart.
Thank you and good luck! 🍀
❤️ If this analysis helps your trading day, please support it with a like or comment ❤️
Fundamental Analysis:
JPY weakness is supported by the following news:
Prime Minister Sanae Takaichi, who is running in a snap election that she is widely expected to win this Sunday, sparked a sell-off in the yen earlier this week after a campaign speech in which she touted the benefits of a weaker currency.
Technical Analysis:
On the other hand, CADJPY is rising within an expansionary pattern and is likely to move higher this time. Considering that many JPY pairs are already coming off all-time highs, it is likely that CADJPY will do the same.
Key Targets:
114.58
115.17
116.00
You may find more details in the chart.
Thank you and good luck! 🍀
❤️ If this analysis helps your trading day, please support it with a like or comment ❤️
Trade active
CADJPY - Target_1 reached and the bullish momentum remains intact. If BOJ doesn't make any comment about Forex Intervention (Manipulation), CADJPY should continue with the other targets.
Japan's Prime Minister Sanae Takaichi, who is running in a snap election, is widely expected to win this Sunday, which caused the yen to fall earlier this week.
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✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.