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.


US Dollar (DXY) Hanging on by a Thread - What’s Next?

US yields remain stable, but the combination of a weaker greenback and firmer Gold prices means US political risk is rising.
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Analyst Picks

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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