The exchange rate of the Canadian dollar to the Japanese yen on Forex
CADJPY, a cross-rate consisting of the Canadian dollar and the Japanese yen, is characterized by high volatility and strong, long-lasting trends, which allows traders to earn good profit from its movements, especially when pursuing medium-term and long-term trading strategies. The trading instrument is most active during the Asian and American sessions and least active during the European session. The movement of CADJPY is strongly influenced by fundamental data, including world oil prices, changes in trade balance and interest rates in Canada and Japan. There is also a significant correlation with the charts of Brent crude oil and its oil futures, as well as EURJPY pair chart.
Trading CADJPY is considered quite difficult, because it requires experience and patience for running medium-term strategies. Short-term trading tactics are not effective for this asset due to the increased spread as a result of double conversion.
The current chart of CAD/JPY quotations and the current cross-rate of the Canadian dollar to the Japanese yen on Forex are presented below.
Risk warning: Trading in FX and CFDs entails high risk of losing capital.