CADJPY Forecast and Live Chart

The Canadian Dollar/Japanese Yen currency pair (also referred to as CADJPY and CAD/JPY) is one of the most actively traded minor pairs in the world. In this article, we will examine how CADJPY is performing.

CADJPY Key Stats

  • 2021 high: 93.02
  • 2021 low: 80.55
  • YTD high: 107.21
  • YTD low: 89.23
  • YTD % change: +16.83

CADJPY Forecast

The CADJPY has been firmly bullish since around the start of 2021. Given the global economic uncertainty, we see another move higher in the near-term, with a target at 107.15. However, due to its significant run higher, we do expect a larger pull back at some point soon. It is important to watch oil prices and the Ukraine-Russia conflict due to the effect on oil prices and the CAD as a result. Furthermore, we will be watching the Japanese economy for a potential signal on when to exit any position, as soaring inflation has put them under pressure to raise rates. While they have not yet budged, some institutional traders believe the BoJ will be forced to act and the JPY will end up rallying.

CADJPY june 2022

CADJPY Fundamental Analysis

Fundamental analysis is an important tool for long-term investors. Fundamental analysis can help determine a directional bias, analysing data such as economic activity, unemployment, and monetary policy. So, when trading the CAD/JPY it is important you are aware of the current economic factors affecting each country.

The Canadian Dollar often reacts to the price of oil. This is due to Canada’s most significant earnings coming from the sale of crude oil.  It is one of the largest producers and exporters of the commodity and with crude oil-producing immense gains this year, the Canadian dollar has continued to surge. Furthermore, a recent hawkish tone from the Bank of Canada has also boosted the currency this year.

The Japanese Yen is considered a safe haven investment, and the Bank of Japan has maintained low rates for several years. The low rates have meant the JPY is a valuable funding source for investments in other nations. Therefore, during economic uncertainty, investors will usually unwind their positions in high-yield, riskier assets, boosting the JPY. However, while the currency has been a safe haven in years gone by, the Japanese yen is having a terrible time in 2022, despite the global economic worries. A surging dollar and concerns about inflation and the Japanese economy have seen the previously safe haven yen tumble.

Furthermore, with Japan being a large exporter of goods, it has resulted in currency intervention from the BoJ to sell the yen and keep exports competitive.


Related Articles


CADJPY Technical Analysis:

Support Levels:

  • 101.05
  • 98.83
  • 94.30

Resistance Levels:

  • 107.15
  • 108.93
  • 110.00

Support and resistance levels offer areas where price may react in one direction or another. A strong bullish run for the CAD has seen the pair smash through various levels in recent months.

The nearest key support level on the daily chart is at 103.50, which it recently bounced off after an initial close above. Below that, 102.00 is key as it is also a strong psychological level to watch out for, with the price pulling back to that area and bouncing as recently as mid-June. Furthermore, 101.05 was also recently broken and previously acted as a strong resistance level on the weekly and daily charts. A long-term lower level is 98.83. History dictates it is a stubborn level that has been tested both as a support and resistance, many times previously.

The CADJPY recently reached its highest level since 2008. A near-term resistance level to watch out for is 107.15, which was tested multiple times in 2008 and recently remained strong in 2022. It may be a difficult level to break in the future. Beyond that, we have our eyes on 108.93, another level with multiple tests in 2008. The final, long-term level to watch is 110.00. However, it is quite a distance away and would take another strong bullish move higher before getting near to that price.

Trade CADJPY with our top brokers

Broker Features Regulator Platforms Next Step
Number One Broker tickmill_logo-173 % of retail CFD accounts lose money Founded: 2014
73 % of retail ...
  • Ultra-fast execution from 0.1s
  • Low spreads from 0.0 pips
  • All trading strategies allowed
FSA SC MetaTrader 4, Web Trader
BlackBull Markets LogoYour capital is at risk Founded: 2014
  • Leverage Up To 500:1
  • $200 Min Deposit
  • 60+ Tradeable Instruments
FSPR MT4
Your capital is at risk Founded: 2006
Europe* CFDs ar...
  • 40% New Member Bonus
  • Regulatory licenses across 5 continents
  • 24/7 trading
ASIC, FSA, FSB, MiFID MetaTrader4, Sirix, AvaOptions, AvaTrader, Mirror Trader
Between 74-89% of CFD traders lose Founded: 2010
Between 74-89 % of retail investor accounts lose money when trading CFDs
  • Four user-friendly trading platforms
  • Consistently rater No1 for Trader Support
  • Set up by traders, for traders
ASIC, FCA MetaTrader 4, MetaTrader 5, cTrader
Your capital is at risk Founded: 2020
  • Impressive range of trading platforms
  • Tight spreads and low commissions
  • Excellent customer services
  • STP and ECN trade execution
- Pro Trader, MT4, MT5
vantage logoYour capital is at risk Founded: 2009
  • Leverage up to 500:1
  • $200 Min Deposit
  • Spreads from 0.0
CIMA MetaTrader 4, MetaTrader 5, WebTrader
LegacyFX LogoYour capital is at risk Founded: 2012
  • Meta Trader 5 Trading platform
  • Exclusive professional trading tools
  • Dedicated support staff during all trading hours
BaFin, CySEC, FCA, NBRB, VFSC MetaTrader 5
AdroFX LogoYour capital is at risk Founded:
  • Crypto deposits possible
  • Bonus offers
  • Leverage up to 1:500
  • MT4 and Allpips platforms
FSA, VFSC MetaTrader 4, Web Trader, Social Trading Allpips, Web Platform Allpips
Your capital is at risk Founded: 2000
  • Good range of assets, such as CFDs
  • Fully regulated brokerage
  • Multi-lingual reporting
DFSA, FCA, FINMA, MFSA, only EU traders), SFC FCA (Swissquote LTD MT4, MT5, AdvancedTrader
Trade360 LogoYour capital is at risk Founded: 2013
  • Over 200 Tradeable Accounts
  • $50 no deposit bonus
  • Trading Central Insight Portal
CySEC CrowdTrading
Oanda Logo77% of retail CFD accounts lose money Founded: 1996
  • No Minimum Deposit
  • Over 100 instruments
  • Web, desktop, mobile platform and MT4

ASIC, FCA, IIROC, MAS fxTrade, MT4
vt markets logoYour capital is at risk Founded: 2016
ASIC, CIMA MT4
Your capital is at risk Founded: 2015
  • $50 Min Deposit
  • Flexible Leverage
  • Low Min Order Values
FCA, SCB MT4
Your capital is at risk Founded: 1991
73.05% of investors lose money when trading CFDs with FXCM
  • Enhanced Execution and pricing.
  • Award-winning trading platform
  • Free Access to Exclusive Trading Tools
- FXCM Trading Station (Web, Desktop, Mobile), FXCM MetaTrader 4, NinjaTrader
city index new75% of clients lose money. Capital at risk. Founded: 1983
  • Exceptional customer service
  • Beginner-friendly
  • Free Webinars
ASIC, FCA, MAS Advantage Web, AT Pro, MT4, WebTrader
Exness LogoYour capital is at risk Founded: 2008
  • Instant automated withdrawals 24/7
  • Commission-free Standard accounts
  • Some of the lowest spreads on the markets and stable execution
  • Unlimited leverage
  • Free VPS Hosting
CySEC, FCA, FSA, FSCA MT4, MT5, WebTerminal
Your capital is at risk Founded: 2017
FSC XOH, MT5,
SquaredFinance LogoYour capital is at risk Founded: 2016
CySEC
fusion markets logoYour capital is at risk Founded: 2017

Lowest Commissions in Australia

$4.50 per lot RT

ASIC, VFSC MT4
Your capital is at risk Founded: 2012
Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.
  • High leverage.
  • Variety of trading tools.
  • Multilingual support.
  • Excellent range of educational tools
  • Leverage up to 1:1000
  • Spreads from 0.3 Pips
  • Only a $10 minimum deposit
FSA, FSC MT4, MT5, WebTrader, Proprietary Mobile App