The combination of Mexican peso and Japanese yen is a rare and minor currency pair. However, the low margin requirement makes it easy to get started. Since the United States is right next to Mexico, the policy interest rates and economic trends in the United States are strongly affected. Also, as with the South African rand, the price range is not very large. Therefore, it may not be very suitable for scalping and day trading.
Difficulty
Recommended for beginners. Since extreme price movements are unlikely to occur, it is unlikely that all funds will disappear with one shot. There is a sense of stability, but since the price movement does not occur so much, a big trend does not occur easily. You should think of it as a practice. For those who want to trade in earnest, we recommend major currencies.
Recommended trading time
The Japanese yen moves in Asian time. Mexican pesos move well in American time. Therefore, it moves widely from Asian time to European / American time, so it is recommended 24 hours a day.
Recommended trading style
The Mexican peso does not fluctuate very much. The Japanese yen is also stable, so it does not move much. Therefore, it may not be very suitable for scalping and day trading. It will be a currency pair for swing trading.
Economic indicators to watch out for
As an economic indicator, the economic indicators on the Japanese side are at a level where you do not have to worry too much. Even if it moves, is it about the Bank of Japan’s policy interest rate, GDP, and unemployment rate?
The same is true for Mexico. Economic indicators do not move that much, and there is no problem if you care about the policy interest rate, GDP, and unemployment rate.
When Japanese Yen is bought
Japan is also said to be a country whose nationality cannot change. Since it is such a country, it often fluctuates for external reasons rather than the influence of economic indicators. The timing of yen buying is very advanced when the world situation becomes unstable such as infectious diseases, financial shocks, and wars.
Timing of Mexican peso movement
Be aware of American indicators as well as Mexican economic indicators. If the relationship with the United States is good, it will be good news, and it is characteristic that signs of rising interest rates can be seen. It is far more likely to be influenced by American indicators and political conditions than Mexican indicators. The ties between the two countries are so strong that many of the 18 states of the United States make Mexico the number one exporter, with $ 1 billion going from Mexico to the United States every day, making Mexico one of the essential countries for the United States. For Mexico, 80% of its exports are to the United States, and 50% of its imports are from the United States, so it is the most important trading partner.
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