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.


Technical Focus: CAD/JPY - Getting Ready for the Next Big Level

Viewed in the context of the 2 legs, USD/CAD and USD/JPY, a CAD/JPY low near 79.00 is an interesting proposition.
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Analyst Picks

My Picks: Bullish CADJPY
Expertise: Technical
Average Time Frame of Trades: Swing (this one is longer term)

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