The exchange rate of the New Zealand dollar to the Japanese yen on Forex
NZDJPY is a cross-currency pair that expresses the ratio of the New Zealand dollar to the Japanese yen. It is usually characterized as a pair with an average volatility. Despite the fact that both national currencies of the pair are quite dynamic, the cross rate chart moves in the range of 100-200 points during an average trading day. To predict the future movement of NZDJPY pair, one should rather use the tools of technical analysis and evaluate the fundamental factors in conjunction. The economy of Japan, devoid of large volumes of natural resources, is associated, mainly, with the achievements of scientific and technological progress. Demand for the national currency of the country increases significantly with each new discovery or invention of Japanese scientists. New Zealand is an agrarian country whose economy depends on the volume of exports of agricultural products and sheep wool, in particular. The economic performance of the country and, consequently, the demand for the national currency are strongly influenced by the long-term weather forecast. With unfavorable weather conditions for the agricultural sector, the demand for the New Zealand dollar declines. When carrying out a fundamental analysis for NZD/JPY, one should take into account the macroeconomic indicators (GDP, inflation, labor market data and interest rate) of the main trading partners - Australia, China, and the United States.
The current cross-rate of the New Zealand dollar to the Japanese yen on Forex is displayed in the quotations chart below.
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