It is the single most important programming language today and will remain so in foreseeable future. The most crucial parts of what our society relies on, run on C++ and cannot be done using another language (except maybe D if it ever takes off): stock exchanges, devices from jet engines to laser printers, oil pipelines, power grids, hospitals, whole city infrastructures, military technology, anything that requires predictable, guaranteed, maximal performance, and is not trivial to implement. Cell phone apps are written in other languages, but what do you think runs in the cell phone towers?
Java is a very different language, it traded expressiveness, speed, and resource management in favor of being simple to learn and use. It is true that, as the hardware improves, whole areas of programming move to Java and C# for simpler, faster, and cheaper development. If you beat your competitor by having more features and richer UI, C++ is not the language for you. If you beat your competitors by executing exact same trade microseconds faster, Java is not the language for you, and never will be.
Keep your options open, learn both -- learning a programming language (at least to the point of being able to work on someone else's team) is a really small part of what you have to learn to be a programmer anyway.