Trading CAD/JPY after NFP and Employment Data from Canada | Forex Fund Manager | Keon Consultancy

CAD Employment Change came to be 418.5K vs forecast of 395K. CAD Unemployment Rate also came better than forecast, 10.9% vs forecast of 11.1%.

We wanted to buy CAD but buying CAD against USD (selling USD/CAD) wouldn't be a good idea as US NFP also came better than forecast. Therefore, we have bought CAD against JPY just like we have bought USD/JPY.

CAD has been strengthening since March 19 as you can see on the major pair chart:

CAD strengthens as USD/CAD keeps breaking support

Here is what we see on CAD/JPY and how are trading it:

Expanding range of CAD/JPY