Trading CAD/JPY for Profit

Trading CAD/JPY for Profit




Deciding this week on trading CAD/JPY forex pair for profit.

We intended on staying in the trade for only a short time rather than long term, knowing the Canadian Dollar is massively affected by oil prices, this is because of Canada’s export of energy, we had a slight concern over volatility.

Next week could be interesting for the Canadian Dollar and trading CAD/JPY due to the Bank of Canada monetary policy announcement that could add intense volatility to the Canadian Dollar.

Also the ongoing trade tensions that the Canada could have with the US with tension over trade with China is a risk for the Canadian Dollar.

We also took note of the Bank of Japan’s latest QE policy and how it deals with the latest inflation battle and at the same time, trying to give the Japanese Yen some strength to help it’s economic activity.

Still we managed to trade the CAD/JPY and take some profit of £143.90 for the fund.

Trading CAD/JPY

(Our trading and image was done using an account with UK based broker IG)

*Please Note, Binary Options and Forex trading can carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice. 




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