Currency pair CADJPY unites Canadian dollar and Japanese yen, where the Canadian dollar represents base currency, and Japanese yen - quoted. As well as the majority of trading symbols containing the Japanese yen, this currency pair differs in the raised volatility and chaotic jumps of quotes. CADJPY is an export-oriented couple which reacts very sensitively to fundamental factors.
The trading instrument CADJPY dynamically reacts to the changes of Japanese and Canadian Central Bank monetary policy. The situation on the international commodity market has a strong impact on a pair, especially the oil price as Canada is the exporter of this hydrocarbon, and Japan - its consumer.
In forecasting, it is worth paying attention to US dollar exchange rate, considering the traditional dependence of Japanese yen on USA currency. Indicators of production, export of automobile industry, mechanical engineering, industrial and consumer electronics of Japan also considerably affect quotes of the tool.