It was a good day for the Canadian dollar (CAD) against the Japanese yen (JPY). It reached 91.77 today. According to the graph, the price is always moving toward its progress time. While it is always moving forward, it has also fallen at a few points. Because it has a lot of strength for lifting, it has quickly climbed back up.
Tuesday’s Industrial Production report from the Ministry of Economy, Trade, and Industry was the start of the CAD/JPY currency pair’s rise. The already low figure fell, even more, allowing the CAD’s oppressiveness to rise even more, so the pair rose even more. This is a test of how Japanese factories and mines make things.
A high reading means that people are more optimistic about the JPY, and a low reading means that people are less optimistic.
The graph shows that the price has support levels at different points that give it the strength to move above the level that it is shown.
If you want the Consumer Price Index figure from Statistics Canada, it will be out on January 19, 2022. In December, economists think it might be down by one unit from the month before.
For example, fruits and vegetables aren’t included in the “core” CPI because they don’t make up a lot of money. Canada’s inflation can be seen by looking at the volatile core 8. Economists say that when there is a high reading, the BoC is likely to be more hawkish, which is good for the loonie.
A good way to make money for short-term and long-term positions is to make money at the current level. The price is likely to keep going up for a long time.