CAD/JPY - The cross between the Canadian Dollar and the Japanese Yen is seen as a strong substitute for the USD/JPY pair when a trader is wary of trading the US Dollar. However, CAD/JPY is historically more sensitive to changes in market-wide sentiment than USD/JPY due to the historically higher yield attached to the Canadian Dollar. Further, the 'Loonie' – as the Canadian Dollar is known – is affected by crude oil prices because of Canada's energy exports.
Click here for live CAD/JPY rates.
Weekly Canadian Dollar-Japanese Yen Trading Forecast
|BoC Governor Poloz Says Data Makes Rate Hike Miles Away||bearish|
|USD/JPY Stuck in Continuation Pattern Ahead of Japan GDP, BoJ Meeting||neutral|