CADJPY chart by TradingView


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 oil prices because of Canada's energy exports.


Canadian Dollar Remains Weak Thanks to Oil Decline, Data Generally Soft

USD/CAD has neared the top of a six-month range, and beyond the usual relationship the Canadian Dollar maintains will oil, it is now at the mercy of US trade negotiations under the Trump administration.
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Michael Boutros   

Currency Strategist

My Picks: Near-term Setups in EURAUD, GBPUSD, AUDJPY & CADJPY
Expertise: Near-term Technicals
Average Time Frame of Trades: 1-2 Days

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