Risk Warning : CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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CADJPY is the ticker symbol for Canadian Dollar vs Japanese Yen. CADJPY is a Forex CFD. The CAD/JPY currency pairing is a representation of the amount of Japanese Yen (JPY) that can be bought for every Canadian dollar (CAD).
The standard contract size for CADJPY is 100000 with max lots of 1000 tradeable in 0.01 lot increments.
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The minimum trade size for CADJPY is 0.01
1000 lots
You analyze the CADJPY forex pair the same as any other market, by a combination of technical analysis, trend analysis, and any pertinent fundamental analysis or information that is available. You should think of the CAD as the "anti-JPY", as if the JPY is soft, it generally means that there is a strengthening CAD, and vice versa.
CFD trading is extremely risky. Trading any leveraged product carries significant risk as you have the ability to open positions that are far larger than your account balance.
The maximum leverage that the Company offers to retail clients for major currency pairs is 1:30 and for non-major currency pairs is 1:20.
One Forex point is normally = to 1000 unit of base currency. For instance, one Forex point of CADJPY is = to 1000 CAD.
The CADJPY cross is one of the more popular currency pairs among traders. It offers a good mix of volatility and liquidity, which makes it ideal for day trading. We'll take a look at three simple CADJPY trading strategies that you can use to get started.
Scalping is a trading strategy that involves making multiple small profits during the day. For this CADJPY strategy, we'll be targeting 10-pip gains on each trade. To do this, we'll be using a 5-minute chart and will be looking for candlestick patterns that indicate a potential reversal. We'll be entering our trades on a limit order basis and will be using a stop loss of 20 pips.
Breakouts occur when the price breaks out of a consolidation area. For this CADJPY strategy, we'll be targeting 25-pip gains on each trade. To do this, we'll be using a 15-minute chart and will be looking for breakout opportunities above key resistance levels. We'll be entering our trades on a market order basis and will be using a stop loss of 50 pips.
Swing trading is a longer-term strategy that involves holding trades for multiple days or even weeks. For this CADJPY strategy, we'll be targeting 100-pip gains on each trade. To do this, we'll be using a daily chart and will be looking for swing trade opportunities using Fibonacci retracement levels. We'll be entering our trades on a limit order basis and will be using a stop loss of 200 pips.
These are just three simple CADJPY trading strategies that you can use to get started. Remember to backtest your strategies before putting real money on the line. And always use risk management tools such as stop losses to protect your capital.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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The Afterprime liquidity mix for the forex market has been specially designed to cater for all forex trading styles. Enjoy trading on CADJPY with fast speeds and low costs.
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Execution From < 1ms
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This website is operated by Afterprime Europe Limited (ex H.C.F.S High Capital Financial Services Limited), a Cyprus Investment Firm ("CIF") that is registered under the laws of the Republic of Cyprus with registration number HE360438, authorized and regulated by the Cyprus Securities and Exchange Commission, ("CySEC") under a CIF License number 368/18.
Afterprime is a tradename of Afterprime Europe Limited.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investors' accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please refer to our full Risk Disclosure Notice.
This website does not contain, and should not be construed as containing investment advice or an investment recommendation or, an offer or solicitation for any transactions in financial instruments.
This information is not directed or intended for distribution to or use by residents of countries/ jurisdictions outside the European Economic Area (EEA), including but not limited to Belgium and USA, since the Company does not offer its services to any third countries where trading CFDs is prohibited.
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