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Analyzing CAD/JPY.

CAD
Canadian economy has been one of the fastest growing developed economies on back of robust business investment and higher public infrastructure spending. Employment growth is also driving the wages higher providing more in the hands of people for discretionary consumer spending. I am expecting the economy to continue doing well while some moderation in growth is plausible.
JPY
Japanese economy is continuing moderate pace of recovery. Government is also putting large investments for the year …
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Predicting CAD/JPY.

Canada’s economy continues to operate with material excess capacity. While employment growth has remained firm, indicators still point to significant slack in the labour market. The resource sector’s adjustment to past commodity price declines appears to be largely complete, but negative wealth and income effects will persist. Bank of Canada projects that Canada’s real GDP will grow by 2.1 per cent in both 2017 and 2018. This implies a return to full capacity around mid-2018, in line with Octobe…
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CAD/JPY UPTREND TO CONTINUE

CAD/JPY: Oil prices play important role in Canadian Dollar strength. A hopeful OPEC deal to cut oil production and weakening JPY added double befit to CAD/JPY strength.
TARGET: 89.03
TOOLS USED: ICHIMOKU, TREND, PRICE ACTION EMA CROSSOVER
CHARTS: WEEKLY AND MONTHLY
WEEKLY CHART:
MONTHLY CHART:
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Predicting CAD/JPY

In the pair of CAD/JPY there are not many reasons for CAD to appreciate but still CAD/JPY may rise as JPY has been depreciating against most currencies in wake of increasing Fed rate hike bets. Moreover if the OPEC members agree for Crude Oil production cap deal it will be a boost to the CAD/JPY.
On the weekly charts CAD/JPY has been in the down trend since December 2014. As of now there is not much clarity on trend on longer time frame but I am expecting the current bullish headwinds for the CA…
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