CAD
JPY
What CADJPY is
CAD/JPY is a currency pair. The Canadian dollar (CAD) is the base currency and the Japanese yen (JPY) is the quote currency. The price shows how many yen one Canadian dollar buys.
- If the price rises, the Canadian dollar has gained against the yen.
- If the price falls, the yen has gained against the Canadian dollar.
The pair does not include the US dollar, so it is called a cross. In practice, the US dollar still affects it, because both CAD and JPY trade heavily against USD. See Majors, minors, exotics for how pairs are grouped.
How to read the quote and pip size
A platform shows two prices:
- Bid: the price you sell at.
- Ask: the price you buy at.
The gap between them is the spread, which is your cost of entry.
A pip is the standard unit of price movement. Yen-quoted pairs are priced with fewer decimal places than most other pairs, so on CADJPY the pip sits one place further left than on a pair like EUR/USD. Many platforms also show an extra digit after the pip, called a fractional pip or point. Do not confuse a point with a pip when you measure a stop-loss or a spread.
Pip value per lot
On CADJPY the pip value is fixed in yen for a given lot size, because yen is the quote currency. If your account is in USD or PKR, that yen amount is converted into your account currency. The converted value moves with the USD/JPY rate, so it is not constant from day to day.
Use the calculator to see the value of one pip for your lot size, in yen and in your account currency:
Fill in the empty fields to see the result.
At Exness the minimum lot on standard instruments is 0.01 lot. On a Standard Cent account, 1 cent lot = 1,000 USD = 0.01 standard lot, which shrinks pip value for small tests. Details are on the Standard Cent account page.
What moves the Canadian dollar
- Bank of Canada (BoC) policy. Interest rate decisions and guidance change the return on holding CAD.
- Crude oil prices. Canada is a large oil exporter, so CAD often reacts to oil. The link is not fixed and can weaken for long periods. See Energies.
- US–Canada trade. Most Canadian exports go to the United States. Tariff news and trade talks can move CAD quickly.
- Canadian jobs data. The monthly employment report is one of the most market-moving Canadian releases. Inflation and GDP data also matter.
What moves the Japanese yen
- Bank of Japan (BoJ) policy. Decisions on short-term rates and the BoJ's stance on government bond yields, including any yield-curve control, have a large effect on JPY.
- US–Japan yield gap. When US yields rise relative to Japanese yields, the yen tends to weaken against the dollar. That move often spills into yen crosses like CADJPY.
- Safe-haven demand. In periods of market stress, traders often buy the yen. CADJPY can then fall sharply, especially if oil drops at the same time.
- Ministry of Finance (MoF) intervention risk. Japan's Ministry of Finance can instruct the BoJ to buy or sell yen. Intervention, or official warnings about it, can move yen pairs by a large amount within minutes.
Because the pair combines a commodity-linked currency with a safe-haven currency, it often reacts to general risk sentiment. For background, read Fundamental analysis and Pair correlations.
Liquidity by session and spread behaviour
- Asian session (Tokyo). Yen liquidity is good, but Canadian participation is low. Spreads are usually wider than later in the day.
- European session (London). Overall forex volume rises and spreads usually narrow.
- North American session. Canadian data comes out in this session. The overlap with London is typically the most liquid part of the day for CADJPY.
- Daily rollover and late US hours. Liquidity thins and spreads can widen noticeably.
Around high-impact news, spreads can widen and prices can jump past your stop level. At Exness, orders opened from 15 minutes before to 90 seconds after high-impact news are subject to higher margin requirements (HMR). During HMR, the leverage for forex is 1:200 (0.5%). You can check release times in the economic calendar, which Exness provides on the website and in the Exness Trade app.
CADJPY at Exness: what to check
There is no CADJPY-specific specification in our sourced facts. Check the specification in the platform (symbol properties in MetaTrader) for the following:
- contract size
- spread
- swap
- trading hours
- margin
The figures below are account-level headline conditions, not CADJPY values:
| Account | Spread | Commission |
|---|---|---|
| Standard | From 0.2 pips | No commission |
| Pro | From 0.1 pips | No commission |
| Zero | From 0 pips | From 0.05 USD each side per lot |
| Raw Spread | From 0 pips | Up to 3.50 USD each side per lot |
The maximum lot size on standard instruments is 200 lots (7:00–20:59 GMT+0), 60 lots (21:00–6:59 GMT+0). Swap is charged on positions held overnight. Pakistan is on the Exness list of countries where swap-free status is assigned automatically. Confirm your status in the Personal Area, and see Swap fees.
Ready to try it on a real or demo account?
Partner link · trading carries a high risk of loss
Margin and risk
Margin is the money the broker holds to keep a position open. The higher the leverage, the less margin is required, but each pip of movement still affects your full position size. Use the calculator to see the margin required for your lot size and leverage:
Fill in the empty fields to see the result.
Leveraged forex and CFD trading can lose money fast. A sudden safe-haven move or a yen intervention can close positions at a loss before you can react. Read Risk management before trading real money.
Readers in Pakistan should also note the following on payments: per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1)). In addition, per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse. More detail is on Law and regulators.
Frequent questions
What does "cad yen" mean?
It is a common name for CAD/JPY, the Canadian dollar priced in Japanese yen.
Why does CADJPY often fall in market sell-offs?
Investors tend to buy the yen as a safe haven. Oil and other risk-linked assets, which support CAD, often fall at the same time.
Is the pip value the same in every account currency?
No. It is fixed in yen. Its value in USD or another account currency changes with exchange rates. Use the pip calculator above.
Where do I find the exact CADJPY specification at Exness?
Check the symbol specification in your trading platform or in the Exness Personal Area. Conditions can change.
Can I practise CADJPY without real money?
Yes, on a demo account. When you register, Exness creates a real Standard MT5 account and a demo Standard MT5 account. See Demo account.
Does this page give CADJPY analysis or signals?
No. It explains how the pair works and what drives it. It does not give price levels, forecasts or trade ideas.
