Electromagnetic Induction Part 1

In the given figure, the magnetic field is outward, means N-pole is formed on outward face and S-pole is formed on inward (back) face. As the induced current is anti-clockwise which is also making N-pole on outward face.
According to the Lenz’s law, the induced current always opposes the nature by which it is produced.
Hence, induced current is in the direction, so the strength of N-pole is maintained as it is decreasing.