Reasons Behind JPY

Good evening guys. Today I'm going to show some of any previous analysis on JPY.
As we can see in CAD/JPY pair JPY were facing strong resistance at 92.000 level from 3rd January to 11th March, It's were not able to break this level. My prediction was if it one break 92.000 level then it will be Boom,
and its happened. Since 15th March there is no red candle, here we can assured how much weak JPY.

I predicted some reasons for the devaluation of the JPY currency.

The JPY's decline is depended on the widening of the USD-JPY interest rate differentials. Currently the Fed has decided to rate hike next month in 50bps. On the other side, Bank of Japan kept their interest rate unchanged (-0.10%).
So clearly the interest rate differentials is very wide.
As a result, JPY is going to be weak and bearish biased until they consider to change their monetary policy.
And also one matter to be considered is that financial year is ending, every major bank have already made the decision of hiking rate,
but BOJ is not concern yet. That's why JPY is heavily selling of against other currency inspite of being safe heaven currency.
As we know that Japan's currency strength is depended on US Bank rate decision, and fundamentally USD is neutral these days from when Fed chairman Jerome Powell uttered the uncertainty about
the world economy for the geopolitical issues.

image source : Trading View, USD/JPY D1, prepared by me