NZD JPY

NZDJPY Currency pair flag

Latest NZD JPY Analysis

60.0 Region Can be Seen on NZDJPY

Hello fellow traders,

NZDJPY recently broke below the recent swing low of wave D of a bigger triangle correction, which now suggests a completed triangle, and a bearish continuation. If that is the case, then a five-wave drop may follow into a higher degree wave C), targeting 60.0 region.

NZDJPY, Weekly

NZDJPY Weekly Report 2019-08-13

On the 4h chart of NZDJPY we have a closer look of the impulsive cycle that got underway at the 73.21 high. We can see five fives down to 67.55 area, from where a new, temporary, corrective pause may have started to take place. As you know, in Elliott wave theory once a five-wave (impulsive) move is completed, that is when a three-wave pullback may follow. Now we are tracking a corrective wave 2 which can unfold a simple zig-zag pattern, and can look for resistance near the 69.5/70.2 region. At the mentioned zone, bears can again take over.

NZDJPY, 4h

NZDJPY 4 hour chart 2019-08-13

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Other major currency pairs


BUY - rate is expected to increase, i.e. the first currency gains value against the second currency.
SELL - rate is expected to go down, i.e. the first currency is expected to lose value against the second currency.


NZD/JPY – Live and Historical Rates

The NZD is not a major currency, while the JPY is one. The pair that these two – economically well-linked – currencies make, is not a major though, nor is it a commodity pair. The chart above illustrates the amount of JPY one will have to spend to purchase a NZD.

The NZD

The New Zealand Dollar – also known as the kiwi – was introduced in 1967, marking the split with the pound (beforehand, New Zealand had used the New Zealand Pound). Pegged to the USD, the NZD became irrevocably tied to the US economy. While the currency has been floating since 1985, the country’s economic ties with the US still make it heavily dependent on the USD. Other countries whose economies influence the value of the NZD are Japan and Australia. The economy of New Zealand is based on agricultural products.

The JPY

One of the majors, the Japanese Yen is the third most traded currency in the world and a popular reserve currency as well. Since the early 1990s, the Bank of Japan – the financial authority in control of the currency – has pushed for low interest rates on the yen. This policy has turned the JPY into a popular carry currency. Carry trading opportunities still emerge from time to time on the JPY to this day. While Japan produces plenty of silver, gold and magnesium, commodity-wise it relies heavily on trading partners such as Australia.

NZDJPY Analysis

New Zealand fits the role of a major trading partner for Japan to a T, on account of the latter’s needs for agricultural imports. During the early 2000s, the NZD underwent an accelerated inflationary process, which – given the stability of the JPY – was exploited by some investors targeting the pair. Currently, the NZD/JPY pair is not a carry pair.