Since the NZD / JPY is a minor currency pair, not many people may be trading. Most people will choose the Australian dollar because the Australian dollar is generally more major and has more trading volume than the New Zealand dollar. The New Zealand dollar is not so volatile, so it is a currency pair for swing trading. On the other hand, it is a currency pair that even beginners can recommend because price movements are easy to stabilize.
Recommended for beginners to advanced users. 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 the trend tends to be less likely than the Australian dollar, as price movements do not occur that much.
Recommended trading time
The Japanese yen moves in Asian time. The New Zealand dollar is in a similar time zone, but European time moves well for that. Therefore, it moves widely from Asian time to European time, so it is recommended for 24 hours.
Recommended trading style
The New Zealand dollar 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?
Few New Zealand indicators will move that much. Like the Japanese index, it is 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.
When the New Zealand dollar moves
In the case of the New Zealand dollar, it is necessary to check the Australian economic indicators at the same time as the domestic economic indicators. Being a neighboring country and having many points of contact, it is greatly influenced by the situation in Australia. And because Australia depends on China’s economy and politics, so does New Zealand.