The CADJPY currency pair is one of the most popular pairs used in Forex trading. It consists of the Canadian Dollar (CAD) and the Japanese Yen (JPY). As opposed to many other currencies, this pair has a tendency to trend strongly in one direction or another. This could be due to a variety of factors such as economic news, political events, global trade flows and the policies of the Bank of Canada and the Bank of Japan.
The performance of this currency pair heavily depends on oil prices and the demand for commodities in general. In addition, CADJPY is also affected by risk appetite in financial markets. The strengthening or weakening of either one currency can also affect the value of this currency pair.
The price history of the CADJPY currency pair has seen considerable volatility over the years. The highest recorded rate for this pair in the last 5 years was in September 2022 when it reached 109.17, while its lowest was in May 2020 at 74.96. Since then, the pair has shown a generally upward trajectory, with occasional dips.
The current rate is about 98, above its and closer to its highs of the past few years. Understanding prices will help traders better anticipate future market movements and make more informed trading decisions. Keeping an eye on major economic indicators such as GDP growth rates, trade balance figures, and inflation rates can help traders understand the direction of the market, so as to make more informed trades.
The Canadian dollar, also known as the loonie, is often seen as a safety play in times of economic uncertainty. This means that it tends to appreciate when other major currencies depreciate, making it an attractive choice for currency traders. The JPY, on the other hand, is a reserve currency and tends to appreciate during periods of political or economic turmoil due to its perceived safe-haven status. Therefore, trading the CADJPY pair gives traders exposure to both currencies at once.
Other currency pairs traders should consider include: USDJPY (US Dollar vs. Japanese Yen), EURJPY (Euro vs. Japanese Yen), GBPJPY (British Pound vs. Japanese Yen) and AUDJPY (Australian Dollar vs. Japanese Yen). Each of these pairs has different dynamics which can be taken advantage of by astute traders looking to capitalize on market movements.
|Swap long||[[ data.swapLong ]] points|
|Swap short||[[ data.swapShort ]] points|
|Spread min||[[ data.stats.minSpread ]]|
|Spread avg||[[ data.stats.avgSpread ]]|
|Min contract size||[[ data.minVolume ]]|
|Min step size||[[ data.stepVolume ]]|
|Commission and Swap||Commission and Swap|
|Trading Hours||Trading Hours|
* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and with low capital investment.