Automatic wave scan: as of 21 Oct 2026, the automatic daily count for CAD/JPY is Wave 5 up with a bullish bias. The count stays valid while price holds 110.17.
Current CAD/JPY wave count
Automatic wave scan Updated daily from the latest daily close (21 Oct 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: price is in wave 5, the final leg of a five wave advance that began at 110.85 on 2 Aug 2026. Next levels to watch are 113.20 and 114.31. The count fails on a daily close below 110.17.
Key levels
| Type | Levels |
|---|---|
| Resistance | 112.88 · 115.57 |
| Support | 110.17 · 110.58 |
| Invalidation | 110.17 |
What is CAD/JPY?
CAD/JPY pairs an oil exporter's currency with the yen, the currency of a major energy importer. Higher oil prices help Canada and cost Japan more, so the pair often rises with oil.
It is also a carry trade pair when Canadian rates are well above Japanese rates.
What moves the CAD/JPY price?
- Crude oil: CAD/JPY often moves in the same direction as oil.
- Risk sentiment: Fear in markets brings yen buying and lowers the pair.
- Rate gap: Bank of Canada and Bank of Japan policy affect carry demand.
- Japanese intervention: Yen buying affects all yen crosses.
How CAD/JPY moves in Elliott Wave terms
CAD/JPY often shows the same wave structure as crude oil, so the two charts can confirm each other. Declines in risk-off periods are often sharp and impulsive.
Look for corrective rallies after a five-wave decline before expecting a new uptrend.
Tips for counting CAD/JPY waves
Compare the count with crude oil and the Nikkei.
CAD/JPY key facts
CAD/JPY Elliott Wave FAQ
Why does CAD/JPY follow oil?
Canada exports oil and Japan imports it, so higher oil prices tend to help the Canadian dollar and hurt the yen.
Is CAD/JPY a risk pair?
Yes. It usually falls when markets are fearful and the yen strengthens.
What is the pip size for CAD/JPY?
For yen pairs, one pip is 0.01.
Sources and further reading
- BIS Triennial Central Bank Survey of foreign exchange turnover (Bank for International Settlements)
- Policy interest rate (Bank of Canada)
- Monetary policy (Bank of Japan)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
