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country currency pairs nzdjpy

New Zealand Dollar vs Japanese Yen

New Zealand Dollar vs Japanese Yen (NZDJPY)

The NZDJPY currency pair represents the exchange rate between the New Zealand Dollar NZD and the Japanese Yen JPY. It is a widely traded forex pair, offering a unique blend of economic dynamics.

-.-- -.--%
Annual change
-.--%
All time High / Low
59.514 / 99.015
Buy

--.--

Sell

--.--

-.-
Daily price range:
Low
93.477
High
94.829

NZDJPY Contract Specifications

  • Minimum Spreads, points: 0
  • Contract Size per Lot: 100000
  • Swap type: Points
  • Swap Long: 5.86
  • Swap Short: -19.94
  • Margin Group: FX Majors
  • Margin Currency: NZD
  • Tick size: 0
  • Trading Platform: MetaTrader 4
  • Minimum Volume: 0.01
  • Maximum Volume: 0
  • Trading Schedule EET: 00:00 - 23:59 Mon - Fri
  • Hedged Margin: 1
  • Days Swap: FX Wednesday, metals-indices-oil friday

History of NZDJPY

The history of the NZDJPY currency pair dates back to the establishment of a floating exchange rate system in New Zealand in 1985. Prior to that, New Zealand’s currency was pegged to a basket of currencies, including the Japanese Yen JPY. Since the adoption of a floating exchange rate system, the NZDJPY pair has been influenced by a range of factors, including changes in interest rates, economic developments, and global market sentiment. Over the years, it has exhibited significant volatility, reflecting shifts in the New Zealand economy, such as fluctuations in commodity prices, and developments in the Japanese economy, such as monetary policy decisions by the Bank of Japan. Traders and investors have utilized historical data and trends in the NZDJPY pair to inform their trading strategies and gain insights into the broader economic landscape.

currency pair nzdjpy

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Frequently Asked Questions

NZDJPY is a commonly used forex trading symbol that represents the exchange rate between two currencies: the New Zealand Dollar NZD and the Japanese Yen JPY. In this currency pair, the NZD is the base currency, and the JPY is the quote currency. It tells traders and investors how many Japanese Yen they need to purchase one New Zealand Dollar. The NZDJPY exchange rate is influenced by various economic factors, including interest rates, economic data, and global market sentiment, making it a popular choice for those looking to speculate on currency movements or gain insights into the economic conditions of both New Zealand and Japan. Traders analyze this pair to make informed decisions in the forex market and manage their risk effectively.

To trade the NZDJPY currency pair, follow these steps: Educate yourself about the forex market and the factors affecting NZD and JPY, choose a reputable broker, analyze the market using technical and/or fundamental analysis, develop a trading strategy and risk management plan, and execute your trades through your chosen trading platform while continuously monitoring the market for adjustments. Successful trading in NZDJPY requires knowledge, discipline, and a carefully crafted approach.

The trading hours for NZDJPY can be found here

Popular trading strategies for the NZDJPY pair include trend following, range trading, breakout trading, and carry trading. Trend following relies on identifying and trading with established trends, while range trading focuses on buying near support and selling near resistance in sideways markets. Breakout trading seeks opportunities when price breaks out from key levels. Carry trading capitalizes on interest rate differentials between the NZD and JPY, aiming to profit from the higher-yielding currency while holding the lower-yielding one. Traders should carefully consider market conditions and risk management when implementing these strategies.

When trading the NZDJPY pair, consider several crucial factors. First, monitor economic data and events in both New Zealand and Japan, as these can influence currency movements. Pay attention to interest rates, inflation, GDP, and geopolitical developments. Additionally, global risk sentiment and market trends can impact the pair, making it essential to assess broader market conditions. Employ risk management strategies, set stop-loss orders, and determine your risk tolerance before trading. Staying well-informed and adaptable is key when trading the NZDJPY pair due to its sensitivity to various economic and geopolitical factors.