The combination of Canadian dollars and Japanese yen is not a major pair, but it is popular. The Canadian dollar is very stable and big volatility is hard to come by. Therefore, it is recommended for beginners. Generally, it is easily influenced by American indicators. Also, the price movement is very similar to AUD / JPY, but the price movement is slower than AUD / JPY. Therefore, it may not be very suitable for day trading and scalping. For swing trading.
Recommended for beginners to advanced users. Since extreme price movements are unlikely to occur, it is unlikely that all funds will disappear with one shot. Trends tend to be difficult to come out. If you want to take a large price range, we recommend the combination of euro and pound.
Recommended trading time
The Japanese yen moves in Asian time. The Canadian dollar moves well in US time. Therefore, it moves widely from Asian time to European / American time, so it is recommended 24 hours a day.
Recommended trading style
Not very suitable for scalping or day trading. It doesn’t move that much, so it’s more for swing trading.
Economic indicators to watch out for
As an economic indicator, the economic indicators on the Japanese side are at a level where you do not have to worry too much. Even if it moves, is it about the Bank of Japan’s policy interest rate, GDP, and unemployment rate?
You don’t have to worry too much about Canada’s indicators, but you should keep the policy rate, GDP, and unemployment low. This area tends to move the market price significantly. In addition to the Canadian indicators, the United States is right next door, so it is greatly affected by the economic situation in the United States.
When Japanese Yen is bought
Japan is also said to be a country whose nationality cannot change. Since it is such a country, it often fluctuates for external reasons rather than the influence of economic indicators. The timing of yen buying is very advanced when the world situation becomes unstable such as infectious diseases, financial shocks, and wars.
When the Canadian dollar moves
It cannot be said that the Canadian dollar only needs to hold down the Canadian index. It also depends greatly on the economic situation in the United States. Let’s grasp the economic and political situation of both countries. It is a factor that cannot be ignored because it is so relevant.