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When converting New Zealand dollars (NZD) to Japanese Yen (YEN), or YEN to NZD, by exchanging via Direct FX, you will save a significant amount of money. Our wholesale currency exchange rates for money transfers are significantly more competitive than bank foreign exchange rates. Being Australasian based, we specialise in knowing what drives NZD and YEN currency conversion rates.
NZD to YEN Overview:The NZD is regarded as a "growth currency", and will therefore generally appreciate when the global economic outlook is positive. The YEN is seen as a “safe haven currency”, and will therefore generally appreciates in times of global uncertainty. As a result the
NZD to YEN rate is relatively volatile and not always indicative of the two economies fundamentals.
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Historical Ranges: |
1 year |
5 years |
10 years |
|
NZD/YEN |
54.78 - 69.13 |
44.26 - 97.77 |
44.26 - 97.77 |
Current Official Cash Rates:
Reserve Bank of New Zealand (RBNZ): 2.5% Bank of Japan (BOJ): 0.1%
NZD YEN Weekly Updates: Back to FX Updates
Monday 14th May 2012 4:42 PM (NZT)
The NZ dollar saw renewed pressure from the Japanese YEN in the early part of last week. The support level at 62.20 has managed to contain the NZD weakness for the time being. A bounce back higher in NZ interest rates aided the stablisation of the NZ dollar. This morning’s weak NZ retail sales numbers were of limited impact, and now the Japanese GDP numbers on Thursday become the primary data focus. Overall the lead will again come from the wider market appetite for risk, no doubt driven by developments, or more accurately a lack thereof, in Europe.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
62.57 |
62.20 |
64.20 |
62.14 – 63.72 |
Monday 7th May 2012 :42 PM (NZT)
The NZ dollar has seen continued selling pressure against the safe haven nature of the Japanese YEN. The increased global uncertainty surrounding economic growth, coupled with the political uncertainty in Europe has paved the way for the move lower for this pair. The oil price falling just adds impetus to the recent move. The lead for the pair for the week will again from the wider market appetite for risk. Until global sentiment stablises, any kind of bounce from the NZD is unlikely to be of material significance.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
63.17 |
63.00 |
66.00 |
63.06 - 65.70 |
Monday 30th April 2012 4:42 PM (NZT)
This pair has spend the last week moving around within expected ranges. The BOJ decision to expand its QE program by 10 trillion YEN has had little effect in the foreign exchange markets, and the YEN has actually appreciated since the announcement. This will be irritating for officials and do not be surprised to hear increased speculation about further possible intervention. The focus this week will be on the NZ employment numbers on Thursday in the absence of any top tier Japanese economic data. The lead will come from the wider markets appetite for risk, with volumes expected to be light as Golden week is celebrated in Asia.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
65.92 |
65.50 |
67.50 |
65.37 - 66.82 |
Monday 23rd April 2012 4:06 PM (NZT)
The NZ dollar saw initial weakness against the YEN at the start of last week. Then the BOJ officials started to issue statements to the news agencies. Seemingly the comments point towards further easing of monetary policy at Fridays monetary policy meeting. The YEN weakened across the board and will likely move around within current ranges ahead of the BOJ meeting on Friday. The RBNZ meeting on Thursday will likely be of limited significance to the price action.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
66.39 |
65.50 |
67.50 |
65.51 – 66.95 |
Monday 16th April 2012 4:01 PM (NZT)
Trading for this pair has been volatile but within a contained range throughout the course of last week. It sold off from the peak as the concerns over Spanish debt increased into the end of the week. The pair starts this week lower again as the risk aversion gathers momentum. Expect the NZ inflation number on Thursday to provide the domestic focus, whilst the wider market risk appetite provides the dominant lead.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
66.34 |
65.50 |
67.50 |
65.56 - 67.48 |
Tuesday 10th April 2012 5:55 PM (NZT)
This pair has been behaving particularly well over the last couple of weeks, having bounced off support at 66.50 each time the market saw any YEN strength. The BOJ announcement of unchanged monetary policy could see further testing of this level in the coming days. If this YEN positive stance is coupled with disappointing earnings results on US stock markets, sentiment could lead to a weaker NZ dollar. The domestic focus for the remainder of the week will be the NZIER business sentiment survey on Wednesday.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
66.71 |
66.50 |
68.50 |
66.37 - 68.34 |
Monday 2nd April 2012 5:11 PM (NZT)
This pairing was volatile within its range throughout last week. This is a good indication of the state of the wider financial markets. Any risk aversion sees the YEN outperform, whilst in times of risk appetite, the NZ dollar will take the upper hand. The NZD dollar has started the week strongly on the back of the better than expected Chinese manufacturing numbers released over the weekend. In Japan the release of the ”Tankan” surveys saw weaker than expected results in the manufacturing sector. The Japanese economy remains under pressure for the most part, and the rumours of further stimulation from monetary authorities is unsurprising. With the end of financial year out of the way now, the next few weeks will be interesting. Without action from Japanese authorities, expect the lead to come almost singularly from the stock markets.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
68.03 |
66.50 |
68.50 |
66.55 - 68.55 |
Monday 26th March 2012 4:50 PM (NZT)
Last week saw the YEN finally take back some of the ground it has lost to the NZD so far in 2012. The release of a weak NZ GDP number accelerated the NZD depreciation. The pair did bounce off the lows as the global stock markets stablised, and the pair starts the week not too far from the now resistance at 67.80. Second tier Japanese and NZ data should be of limited impact this week coming. Expect the lead to come from the wider market risk appetite. If resistance at 67.80 holds, expect further downward pressure on the NZD.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
67.52 |
65.80 |
67.80 |
66.52 - 69.06 |
Monday 19th March 2012 4:15 PM (NZT)
The NZD has consolidated at elevated levels against the YEN. It will be an interesting couple of weeks for this pairing, as it edges up towards levels not seen since before the start of the global financial crisis in 2008. Given the scale of the NZD appreciation over the last 12 weeks, further ground from the current levels should prove to be harder fought. Of interest will be the actions of Japanese exporters as the end of March approaches. Repatriation of funds can be of significant influence when it occurs on masse. In the absence of any Japanese data this week, the NZ current account and GDP numbers on Wednesday and Thursday will be closely watched.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
68.83 |
67.80 |
69.80 |
66.83 - 69.13 |
Monday 12th March 2012 4:07 PM (NZT)
Last week proved to be a dramatic game of two halves for this pairing. The NZ came under intense pressure to start the week after the Chinese downgrade of its 2012 growth expectations to 7.5%. The pairing sold off from what was the weeks high to its low in two days, before rallying almost all the way back to its starting point. The resurgence came as the global risk appetite improved for a period, and the YEN came under renewed pressure from the US dollar, which helped the NZD take back lost ground. The focus this week comes from Japan, with the BOJ monetary policy decision on Tuesday. Expect the pairing to remain volatile in the short term, with the current range offering reasonable buying of YEN with NZ dollars from a historical view.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
67.22 |
66.00 |
68.00 |
65.28 - 67.99 |
Monday 5th March 2012 3:35 PM (NZT)
The NZD remains at elevated levels against the YEN. Strong resistance is now in place at 68.30, having repelled the pair on three occasions last week. The RBNZ will be the focus for the week on Thursday. If the Greek debt swap proposal looks like failing this week, the YEN will see demand and this would push the pair back from the current elevated levels. Towards the upper end of this range represents good value buying of YEN with NZ dollars.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
67.71 |
66.30 |
68.30 |
66.80 - 68.33 |
Monday 27th February 2012 4:15 PM (NZT)
This pair spent the first half of last week in a relatively contained range before appreciating strongly on Thursday and Friday. The move higher was driven by YEN weakness, that flowed on through to the pairing from larger moves in the USDYEN pairing. The pair looked to be consolidating through the resistance at 68.00, before the NZD gave up ground as the AUD was sold earlier today against the YEN. It will be an interesting week from the current levels. Further upside moves from the NZ dollar will be harder fought than the previous moves have been.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
67.74 |
66.40 |
68.40 |
66.26 - 68.33 |
Monday 20th February 2012 5:15 PM (NZT)
The NZD again saw some sharp appreciation against the YEN throughout the course of last week. First came weaker than expected GDP numbers in Japan, and then the surprise QE program to the tune of 10 trillion YEN. The BOJ will no doubt be very happy with the reaction to their new program. Until recently the YEN has been at record, or close to, levels against most currency pairs. This week will see the lead for the pair provided by the global appetite for risk, in the absence of any significant economic data in either economy. Progress for the NZD will prove harder fought, if it approaches resistance at 68.00.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
66.92 |
66.00 |
68.00 |
64.09 - 67.31 |
Monday 13th February 2012 5:15 PM (NZT)
The NZ dollar continued its recent appreciation against the YEN last week. Today’s weaker than expected Japanese GDP numbers will do little to turn the momentum in the short term. If the news continues to be more positive from Europe, expect further gains from the NZ dollar to be more easily made. The wider market risk appetite will drive this pairing for the most part this week, with only 4th quarter NZ retail sales due for release on Wednesday. The BOJ monetary policy decision on Tuesday should not surprise, but expect further talk from officials with regards to the across the board strength of the YEN continuing to choke the economy.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
64.65 |
63.50 |
65.50 |
63.46 – 64.86 |
Monday 6th February 2012 5:15 PM (NZT)
The NZ dollar remained in demand against the JPY as the global risk appetite increased throughout the course of last week. Little from either Japan or NZ had a part in the move. The recent US dollar weakness has seen renewed YEN demand, and the stronger YEN places further strain on Japans beleaguered export sector. This week has more of a domestic focus with NZ labour cost numbers due for release tomorrow, and quarterly employment numbers on Thursday. There is no economic data of note in Japan this week, but the JPY remains on watch for further Bank of Japan (BOJ) intervention, to weaken the JPY.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
63.79 |
62.50 |
64.50 |
62.28 - 64.16 |
Tuesday 31st January 2012 5:15 PM (NZT)
The NZ dollar saw initial appreciation over the YEN last week, but towards the end of the week it started to give up its gains. Those gains accelerated yesterday as wider market risk aversion picked up. Expect any further investigations towards the resistance at 63.80 to be hard fought for the NZD. Next Tuesdays NZ employment numbers will provide the next focus for the domestic data, in the meantime the pairing will take its lead from the wider market appetite for risk.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
62.78 |
61.80 |
63.80 |
61.89 - 63.81 |
Monday 19th December 2011 5:40 PM (NZT)
The NZD was under pressure from the YEN in the first half of last week, as the wider market risk aversion increased. The turnaround came Thursday and the NZD performance since then has been solid. The focus this week will be the NZ GDP number on Thursday. If the wider market sentiment improves, expect the initial resistance at 59.70 to be broken and the way opened for investigations to further resistance at 61.00. The BOJ announces monetary policy on Wednesday, but expect no change in their stance at this meeting.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
59.14 |
57.70 |
59.70 |
58.22 - 59.66 |
Monday 12th December 2011 5:40 PM (NZT)
Last week the NZD saw pressure from the YEN, following the low Chinese inflation numbers. The safe haven nature of the YEN meant the move was more accentuated than against other pairs. The NZD suffered, like other growth assets, as the lower inflation number highlights the lower global growth profile. This week the lead for this pair will entirely come from the wider market sentiment, because there is an absence of economic data for either economy. If the post EU summit positive sentiment continues, the NZD will see grinding appreciation.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
60.01 |
59.20 |
61.20 |
59.27 - 61.03 |
Monday 5th December 2011 5:25 PM (NZT)
The NZD saw appreciation again the YEN last week and the risk appetite in the wider market increased. Initially the improved sentiment was driven by an ill founded rumour of an IMF funding package for Italy. After the subsequent IMF denial, the NZD saw further demand after the coordinated effort from the central banks to increase US dollar funding to stressed banks. The pair has stalled around resistance at 61.20, and the ground from here will likely be harder to make for the NZD. There is little in the way of Japanese data this week. In NZ the focus will be on the accompanying statement to the expected unchanged cash rate from the RBNZ on Thursday.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
60.71 |
59.20 |
61.20 |
57.81 - 61.13 |
Monday 28th November 2011 5:25 PM (NZT)
The YEN maintained its pressure on the NZD throughout the course of last week. The wider market risk aversion was the primary driver, and was driven by the increasing unease in the European debt markets. The rumoured Italian funding package from the IMF has seen the market open this week in the NZ dollars favour. Indeed a package would calm investor nerves in the short term, easing the way for the NZD to take back some of its recently lost ground. There is limited economic data of impact in either economy this week, so expect the lead to again come from the headlines coming from Europe. A break of the resistance at 59.00 would open up the way for another leg higher to test 60.60.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
58.25 |
57.00 |
59.00 |
57.00 – 58.45 |
Monday 21st November 2011 6:15 PM (NZT)
The increased risk aversion continued its trend last week and this obviously pushed the NZ dollar lower against the safe haven YEN. Adding to the pressure was the increased NZD supply as the November 2011 NZ Government bond matured. The wider market risk aversion does not look like abating this week, but further progress from current levels should be harder fought for the YEN. In the absence of any top tier data in either economy this week, again the winder market risk appetite will be the primary driver for this pair.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
58.13 |
57.00 |
59.00 |
57.85 - 61.87 |
Monday 14th November 2011 5:15 PM (NZT)
Initially last week this pair was very stable. However as the wider market risk aversion increased, after the stress in the Italian debt markets, the NZD saw increasing pressure from the YEN. Over the week the risk aversion tapered off, with the confirmation of action in both Italy and Greece. This coupled with the positive NZ retail sales numbers released this morning, has seen the NZ dollar bounce back from the lows seen on Friday. Today saw the Japanese GDP number released as expected at 1.5% for the quarter. This healthy growth rate is expected to continue, as the earthquake recovery efforts gather pace.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
60.79 |
60.00 |
62.00 |
59.96 - 62.38 |
Monday 7th November 2011 5:15 PM (NZT)
This pair was volatile last week as the BOJ market intervention and Greek debt debacle each played on the market pricing. Following the BOJ stand in the market to sell YEN, the pair jumped from 62.02 to 64.57 within 30 minutes. From there as the Greek issues played out the NZD came under increasing pressure and the pair hit the lows before the NZD recovered once the proposed Greek referendum as call off (refer to “Market Overview”). This week sees little economic data of significance in either economy. The driver will come from progress in Europe. Positive news will see the NZD outperform, and if the news is negative, the opposite will be true.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
62.15 |
61.00 |
63.00 |
60.91 - 64.57 |
Monday 31st October 2011 4.50 PM (NZT)
This pair was relatively stable last week, with the NZD outperforming just at the end of the week, as the post EU summit enthusiasm hit its high point. Today’s intervention by the BOJ in the USDYEN market to sell YEN has seen the NZD spike higher to a peak of 64.57. Whether or not this intervention continues to have an effect remains to be seen. History tells us that the BOJ will have to be very committed to have any kind of effect over time. Apart from the BOJ this week, the NZ labour cost index on Tuesday, and the NZ employment numbers on Thursday will provide direction. The old resistance at 62.50 now becomes support as the pair looks to consolidate at these familiar levels.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
64.03 |
62.500 |
64.500 |
60.08 - 62.60 |
Monday 17th October 2011 4.50 PM (NZT)
The NZ dollar steadily rallied higher against the Yen throughout the course of last week. The rise was simply a function of the wider market increase in risk appetite. There was little in the way of economic data in NZ last week and this continues this week. Last week Japan saw some solid machinery manufacturing numbers, but this week there are no releases of note. The market remains alert for any action from the BOJ with regards to some kind of cap to the level of the YEN. To my mind this remains unlikely, as I think they would have acted before this point, if they were going to act in this way. Current levels still represent good value buying of NZD with YEN.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
61.90 |
60.20 |
6320 |
58.80 - 62.29 |
Monday 10th October 2011 5.00 PM (NZT)
The NZD initially gave up ground against the YEN last week. The bounce from the lows was prompted by the commitment from European officials to put together a bank aid package, to ensure appropriate capitalisation of the European banks. The lack of important domestic economic data releases this week means the lead will be provided by the general market appetite for risk. Current levels represent good value buying of NZD with YEN.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
59.30 |
58.00 |
61.00 |
57.31 - 59.91 |
Monday 3rd October 2011 5.10 PM (NZT)
The YEN continued with its dominant recent run over the NZ dollar. The lower global growth outlook has seen the YEN in demand and the NZD under pressure. Current levels represent very good value buying of NZD from a historical perspective. With just the NZIER quarterly survey of business opinion due for release on Tuesday in New Zealand, the lead will come from the wider market appetite for risk for the most part. Intervention from the Bank of Japan to sell YEN remains a proposition, but is unlikely with the USD/JPY at current levels.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
58.37 |
58.00 |
61.00 |
58.23 - 61.01 |
Monday 26th September 2011 6.42 PM (NZT)
The NZD gave up ground to the YEN at a rapid pace as the market risk aversion dramatically increased. Whilst this YEN strength and NZD weakness may continue, current levels represent good value buying of NZD with YEN. With the YEN strength the chance of intervention from the BOJ increases, but unless the YEN makes further ground against the US dollar, the likelihood of this is relatively low in my view. There are retail sales and inflation numbers in Japan this week, but more likely is the lead will come from the equity markets and their expression of risk appetite. Building and consumer sentiment numbers in NZ on Thursday will be followed, but expect relatively little impact as the global picture dominates.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
58.64 |
58.00 |
61.00 |
58.79 – 63.89 |
Monday 19th September 2011 5.15 PM (NZT)
In line with lower levels of market volatility, this pair was relatively contained in its range last week. The NZD lows were seen in the aftermath of the RBNZ monetary policy statement on Thursday. This softness was reversed on Friday as the NZD was dragged higher by increased risk appetite as US equity markets managed to stake their 5
th straight day of gains. This week should see further range bound trade in the absence of an escalation of fears in Europe. The focus for the week will be Thursdays 2
nd quarter NZ GDP number. Expect the broader 62.00 - 65.00 range to remain in place.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
63.31 |
62.00 |
65.00 |
62.24 - 64.09 |
Monday 12th September 2011 4:55 PM (NZT)
This pair was volatile over the last week with the NZD suffering late in the week from rising market risk aversion on the back of the European debt crisis escalation. This week has started with the sentiment continuing. Expect the NZD to find some level of support as we approach levels where interest rate differentials really start to come into play. The RBNZ cash rate decision and accompanying statement will be closely watched on Thursday, but for the most part general market sentiment will provide the lead. Initial support will come in at 62.50 with further support at 62.00.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
63.17 |
62.00 |
65.00 |
63.18 – 64.86 |
Monday 5th September 2011 6:05 PM (NZT)
The NZD appreciated against the YEN at the start of last week. Demand for both NZD and AUD against YEN was reportedly driven by exiting of sold positions by large hedge fund accounts. The pair spend the bulk of the week range trading close to the week’s highs, before the safe haven demand following the disappointing US employment numbers once again saw the NZD under a little pressure. With little in the way of domestic economic news in NZ this week, expect the lead for this pair come from the overall market appetite for risk and movement to closely follow the equity markets.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
64.75 |
63.75 |
65.75 |
63.79 - 65.77 |
Monday 29th August 2011 6:35 PM (NZT)
Like many other NZ dollar cross rates, the NZD/JPY reversed the previous weeks moves by gaining throughout the week. The better Chinese and US data added to the risk appetite and this positive sentiment looks to be feeding into the start of this week as well. This pair is approaching significant resistance at 65.20, so progress from here should be harder to make for the NZD. The real risk factor in this pair is that of the Bank of Japan (BOJ). With the Swiss National Bank making head roads into weakening the CHF, the BOJ has been left exposed for funds seeking a safe haven. This may push them into intervention of their own, and even short term effectiveness would see the NZD well higher should they enter the market. So along with this great unknown, drivers of the market will be NZ building data on Tuesday and the NBNZ Business Confidence survey on Wednesday. Given the fact that a Japanese Govt credit downgrade did not directly affect the exchange rate last week, lets assume that Japanese data will be overlooked for the most part. If initial resistance around 65.20 is taken out, expect further resistance at the 66.20 level.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/YEN |
64.80 |
63.20 |
65.20 |
62.53 - 64.87 |
