The currency pair Canadian dollar / Japanese yen is of great interest to traders, especially for those who use fundamental analysis in their trading. CAD / JPY is a cross-currency pair, or cross, that is, a financial instrument in which there is no US dollar.
The currency pair is extremely attractive, although it is considered exotic, since this financial instrument has a great potential for profit taking due to high volatility and a rigid dependence of changes in rates on fundamental factors. The actions of Japanese and Canadian central banks, the economic situation of these countries, the movement in commodity markets, where Japan is the main consumer, and Canada - the supplier, have the strongest impact on the exchange rate.
To maintain the competitiveness of industrial producers, Japan regularly conducts measures to weaken the national currency (intervention). Canada in this regard is more difficult, since modern industry requires not to allow the strengthening of the Canadian dollar against world currencies. And at the same time, imports from the Asia-Pacific region make the loss of the dollar against the Japanese yen unprofitable. The Canadian dollar is very dependent on the cost of oil in world markets. High spread CAD / JPY currency pair makes it unsuitable for scalpers and traders who trade short positions.
The graph presented on the page reflects the dynamics of the CAD / JPY movement. The Canadian dollar is the base currency here and its dvolatility directly affects the dynamics of the pair. The opposite effect is exerted by the quoted currency - the Japanese yen. Its growth leads to a decrease in the cost of quotations.
Japanese yen - (Japanese currency, currency symbol -, bank code: JPY) is the currency of Japan, one of the world's main reserve currencies. The issuing authority is the central bank of Japan.
Canadian dollar - (currency sign - $ or C $, Bansko code: CAD) - the monetary unit of Canada. It was introduced in 1858. The Central Bank of Canada has the right of issue and regulation.
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