NZD/JPY(Kiwi Yen)

What is NZD/JPY?

NZD/JPY pairs the New Zealand Dollar against the Japanese Yen. NZD is a commodity currency with Chinese exposure; JPY is a safe-haven currency. The cross trades as a risk-on / risk-off proxy similar to AUD/JPY.

Daily ranges of 55 to 90 pips are typical. The pair uses 2-decimal yen pips. Lower volume than AUD/JPY means slightly wider spreads.

Base currency

NZD (New Zealand Dollar, New Zealand)

Quote currency

JPY (Japanese Yen, Japan)

Pip location

2nd decimal (0.01) — yen-quoted

Volume share

under 0.5% of daily global forex turnover

When to trade NZD/JPY

NZD/JPY is most active during the Sydney + Tokyo overlap (5 to 11 PM ET). Both home markets are active and RBNZ / BoJ events drop during these hours.

Avoid the late-London window — Asian markets have closed and the pair drifts.

Best session

Sydney + Tokyo overlap (5 to 11 PM ET)

Avoid

Late London (12 PM ET onwards)

News events that move NZD/JPY

RBNZ rate decisions and BoJ events drive the largest scheduled moves. Chinese data (GDP, PMI) drives the NZD leg significantly.

Global risk events move the pair similarly to AUD/JPY: risk-on rallies push NZD/JPY higher; equity selloffs push it lower.

Central banks

Reserve Bank of New Zealand (RBNZ), Bank of Japan (BoJ)

Key releases

RBNZ rate decisions, BoJ rate decisions, Chinese data, Risk-off events, NZ CPI

Want the full event calendar? See the economic calendar, and look up unfamiliar terms in the forex glossary.

NZD/JPY FAQ