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Thinking of trading CADJPY?

    1. The CAD/JPY's long trends allow medium-term and long-term traders to earn good profits from its movements. 2. Canada and Japan are some of the strongest economies, Canada has the 9th largest economy in the world, based on gross domestic product (GDP), and the 14th largest, based on purchasing power parity (PPP). It's the 5th largest energy producer, the 7th largest producer of crude oil, and is overall one of the richest countries in the world. Japan holds the number 3 spot of the world's strongest economies, with regard to nominal gross domestic product growth, and the number 4 spot, with regard to purchasing power parity.
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CAD/JPY is considered a cross-rate currency as it is not directly related to the USD. Behind the USD, EUR, JPY and GBP, the canadian dollar is the fifth most held reserve currency in the world. The CAD substituted the Canadian pound in 1858.The Bank of Canada has no specific target value for the CAD and has not intervened in the foreign exchange markets since 1998 as it believes that the value of the currency should be determined by market conditions. Canada is known as a significand oil exporter and its price tends to correlate with the oil price, reflecting its status as a petrocurrency. CAD/JPY's historical range has been 57.76 in 1995 and 226.99 back in 1982, it is currently trading at 81.45. It is characterized by its high volatility and strong long-lasting cycles. The movement of CADJPY is strongly influenced by fundamental data, including world oil prices, changes in the trade balance and interest rates in Canada and Japan.

1. Due to the currencies in this pair, you can choose certain events to double expose yourself and attempt a high return trade. In the case of Canada, the price of oil is particularly significant for currency moves, and investors tend to go long on loonies and short on oil importers (such as Japan, for instance) when oil prices are moving up. 2. Similarly, there is some impact on the loonie fiscal and trade policy in countries like China - countries that are major importers of Canadian materials.