NZD/JPY Forex Trading
NZD/JPY is a cross pair that consists of two risk-sensitive currencies. This makes trading very exciting. Interested? Start trading NZD/JPY with FXOpen today!
NZD/JPY Live Charts
Use our NZD/JPY live chart to get the most up-to-date insight into the recent performance of this pair and other currency pairs used in forex trading. It can help you make informed decisions at home or on the go – no matter if you use the TickTrader desktop platform, web terminal, or mobile app. Our real-time chart includes the very latest price, historical data, and technical analysis tools to help guide your next trade.
What Is NZD/JPY Trading?
NZD/JPY trading refers to the buying and selling of the NZD/JPY currency pair in the foreign
exchange market. The pair represents the value of one New Zealand Dollar (commonly called a “kiwi”)
in terms of Japanese yen. For example, if the current exchange rate is 85.00, it means 1 New Zealand
Dollar is equivalent to 85.00 Japanese Yen.
The New Zealand dollar is legal tender in New Zealand, a country with an export-oriented economy
with key industries such as agriculture, horticulture, dairy, and tourism. As a result, commodity
prices and global economic trends can also impact the performance of the kiwi in forex.
The Japanese yen is legal tender in Japan, an economy renowned for its technological innovations and
advancements. Japan has a well-developed industrial base, including sectors like automotive,
electronics, machinery, precision instruments, and chemicals. The stance of the country’s economy
affects the value of the yen.
The NZD/JPY FX pairing reacts to market sentiment, which is reflected in constant price swings.
FXOpen offers spreads from 0.0 pips and immediate trade execution to allow traders to access
favourable trading opportunities.
NZD/JPY Historical Performance
As the Japanese yen is a safe-haven asset, and the New Zealand dollar is a risk-sensitive
currency due to its links to commodity prices, the pair suffers significant price fluctuations.
It forms long-term up and downtrends, fluctuating from slightly above 40 to slightly above
92.
The global financial crisis in 2008 had a notable impact on the NZD/JPY pair. Investors sought
safe-haven assets, and the Japanese yen, being considered a relatively safe currency,
appreciated against the New Zealand Dollar during this period.
The outbreak of the COVID-19 pandemic in early 2020 led to heightened market volatility and
uncertainty; as a result, the pair declined. However, it started forming an uptrend in the
second half of 2020. The central banks of both New Zealand and Japan implemented various
measures to stabilise their economies, influencing the exchange rate of the pair.
Major Factors That Affect the NZD/JPY Pair
Economic indicators, including GDP growth, employment figures, inflation rates, and trade
balances from both New Zealand and Japan, influence the NZD/JPY pair. New Zealand is a major
exporter of commodities, particularly dairy products and agricultural produce. Fluctuations in
commodity prices can significantly impact the domestic currency.
Interest rate decisions by the Reserve Bank of New Zealand (RBNZ) and the Bank of Japan (BoJ)
have a minor impact on the pair as the Bank of Japan maintains an ultra-loose monetary policy.
However, other central bank measures to support the economy may affect the NZD/JPY rate.
The New Zealand dollar and the Japanese yen are considered risk-sensitive currencies as the
former is a volatile currency, while the latter is a safe-haven asset. Changes in risk appetite
and market sentiment can influence the NZD/JPY pair.
Are you interested in this pair? You can start trading it with FXOpen right away!