Hello guys Good afternoon, welcome to my another blog, As I shared on my previous post Falling reasons behind JPY.
Here I'm gonna share with you more reasons. If you are a trader, you should must have a look on my post.
Russia is a big country if we talk about world business. And Russia cannot deal with Japan directly after the first Joe Biden sanction.
Automatically Japan has lost their 2nd big exporter of raw materials, and that affects the Japanese PMI very badly.
On there side, Euro is being weaker day by day for the Russia-Ukraine war and COVID new variant.
So Japan don't get sufficient deal from the Euro zone.
We conclude from that above discussion that Japan cannot deal with Russia, and Euro zone to some extent.
That might a very strong reason JPY is in free fall. As a result,
JPY crosses like EURJPY, GBPJPY, AUDJPY, NZDJPY, CADJPY, USDJPY are going to the moon breaking world record of Japan's big bubble in 1988
Image source: Trading View, JPY Index D1, prepared by me
Once JPY breaks 900.00 level, its falling too faster, Until any update news comes, I will be Bearish about JPY ..
So friends, hope it helps you, Happy Trade
Thanks for the fundamental part sir
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