During the last months, all pairs are strongly correlated at the intraday/intraweek level, with the majority of correlation coefficients in the .50's-.80's. USDCHF is the only exception. USDCAD vs. EURJPY is not an exception. Why? I'd like to know, too.
Japan imports oil so when crude is rallying yen is likely to weaken, i suggest u to study the importans of what crosses to play when oil goes bannanas cadjpy or usdcad is a good example
USDCAD is correlated to the price of oil, and EURJPY is normally pretty correlated with the Dow, taking a look at the relationship between those two could also help.
