UJ at old resistance levels going back to May 2017 and CAD trapped in a range since mid '16.
The correlation is through the price of Oil. UC and UJ will alternate as the price of Oil is going up and down. Japan being a net import and Canada a net export economy makes CJ an interesting pair to watch. As UC keep dropping its correlation may drive UJ down as well at one point. See how CAD takes place in this all now we have Oil seemingly in a hyper inflated bull run since the first Covid pandemic outbreak.
Personal observations obviously..
The correlation is through the price of Oil. UC and UJ will alternate as the price of Oil is going up and down. Japan being a net import and Canada a net export economy makes CJ an interesting pair to watch. As UC keep dropping its correlation may drive UJ down as well at one point. See how CAD takes place in this all now we have Oil seemingly in a hyper inflated bull run since the first Covid pandemic outbreak.
Personal observations obviously..
