CAD/JPY Smooth Move Up

The CAD/JPY pair rallied over a 150 pips over the span of 12 hours due to various factors.

The Reason:
Oil rose near its 10-month high due to pressure from Nigeria and US refinery Risks. In addition, the Canadian Employment change and Unemployment rate were released this morning at 7:00, both showing positive growth in the economy with a higher than expected employment change, 34.8K from 17.5K, and a steady 6.1% unemployment rate. All three factors can be accounted for the sudden rise in the Canadian Dollar across the board.

The View: