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NZD to JPY –  Japanese Yen to NZ Dollar

When converting New Zealand dollars to Japanese Yen (NZD to JPY), or JPY 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/JPY currency conversion rates.

NZD to JPY 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 JPY 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/JPY 69.38 – 82.75 69.38 – 83.91 55.08 – 107.82

Current Official Cash Rates:
Reserve Bank of New Zealand (RBNZ): 0.25%         Bank of Japan (BOJ): -0.1%

We provide insight into the NZ dollar and Japanese yen currency pair (NZD/JPY) by reporting trends, market news and providing relative currency charts.

Little action in the New Zealand Dollar (NZD), Japanese Yen (JPY) cross sees the price consolidate around the 70.00 mark Tuesday. Preliminary GDP for the second quarter ending 30 June came in at -0.6% from -0.7% yesterday showing the economy shrank at the same pace estimated but improving on the previous two quarters, the Japanese economy is still in a technical recession. NZ unemployment prints tomorrow and is expected to reflect a rising number of around 5.5% – all things considered, this would be an extremely good result. Weekly expected direction: Risk to dictate- higher.
Exchange Rates
Current Level: 70.17
Resistance: 70.50
Support: 66.00
Last Weeks Range: 69.55-70.57

Risk markets have been cautious this week pre US GDP and Fed announcement causing the New Zealand Dollar (NZD) to drift off against the Japanese Yen (JPY) to 69.50 Thursday. Early Friday saw a price shift as investors took on more risk amid further coronavirus vaccine headline news recovering to 70.20. We still favour upside moves in the pair following the long term 50 day moving average trendline with another crack at the double top of 71.60 the next target. Nothing on the calendar next week so movement will be risk based- again.
Exchange Rates
The current interbank midrate is: NZDJPY 69.91
The interbank range this week has been: NZDJPY 69.53- 70.56

The Japanese Yen (JPY) opened the week in a positive mood after returning from a long weekend. The New Zealand Dollar (NZD) is looking a bit shaky into Tuesday with more risk averse trading conditions looking like entering the fold. Trading just off the weekly open at 70.40 price action looks to take on a downside bias from the double rejection at the 71.50 zone. 68.15 support should hold depending on overall risk tone. Japanese Retail Sales and later the Unemployment Rate release (3.0% expected vs 2.9% in May) could weaken the Yen if the numbers surprise.

Exchange Rates
Current Level: 70.53
Resistance: 71.65
Support: 70.00
Last Weeks Range:

A smidgen of risk on flow Monday has seen the New Zealand Dollar (NZD) move higher to 70.50 levels against the Japanese Yen (JPY) as it eyes the recent triple top high of 70.70. Last week’s Bank of Japan monetary statement came and went without a mention, except to highlight the expectation that the Japanese economy will be in far better shape in the second half of the year. Covid cases in Japan are still causing concern with 3,400 new cases in the past week. With no data announcement scheduled this week for the cross movement will be based on geopolitical headlines and risk sentiment.

Exchange Rates
Current Level: 70.55
Resistance: 70.70
Support: 70.00
Last Weeks Range: 69.81-70.61

The New Zealand Dollar (NZD) reached 70.70 early in the week against the Japanese Yen (JPY) but failed to push on falling back Thursday to 70.15 preferring to pivot around this area into Friday sessions. The Bank of Japan’s Monetary Statement Wednesday came and went with no real excitement as the Bank of Japan (BoJ) left their policy tools unchanged. The bank predicted GDP to shrink by 4.7% in the 2020 year with the second half of the calendar looking a little more buoyant. The calendar next week is fairly nude so we could see price bounce around current levels for a while pending risk mood and coronavirus headlines.

Exchange Rates
The current interbank midrate is: NZDJPY 70.16
The interbank range this week has been: NZDJPY 69.80- 70.70

As we said Friday the safe haven Japanese Yen (JPY) was sought taking the New Zealand Dollar (NZD) under 70.00 to 69.90 closing around the 70.20 mark. Monday has seen renewed optimism with the pair back at 70.60 early Tuesday. The Japanese Govt is reluctant to reinstate a state of emergency because of an upward trend in coronavirus but finance minister Nichimura warned the contraction to the economy will be severe. He said they need to impose further restrictions on restaurants and bars not taking preventative measures seriously enough. The Bank of Japan Rate announcement and policy statement is tomorrow which shouldn’t create much excitement as they more than likely retain their current stance. Risk allowing we could see a retest of the prior high from mid-June of 71.60 tested.
Exchange Rates
Current Level: 70.01
Resistance: 70.70
Support: 69.70
Last Weeks Range: 69.97-70.71

The New Zealand Dollar (NZD) extended its incline against the Japanese Yen (JPY) over the week to 70.50 Friday. It did however lose a little momentum midweek after reaching 70.70. Coronavirus worries are back impacting risk products with equities all down overnight as surges in new cases skyrocketed in the States. Japanese Current Account released above expectation for May along with Machinery Orders and other data boosted the JPY. NZ Business Confidence still showed pessimism with export intentions remaining subdued. The positive thing was that a net 15% of companies expect to cut jobs versus 35% last month. If coronavirus worsens in the States we expect more flow into the safe haven JPY to take place taking the kiwi lower.
Exchange Rates
The current interbank midrate is: NZDJPY 70.16
The interbank range this week has been: NZDJPY 70.08- 70.70

As the new week got underway the New Zealand Dollar (NZD) carried on its bullish momentum against the Japanese Yen (JPY) reaching 70.65 early Tuesday. Risk appetite resurgence has pushed up equity prices shrugging off any late week bearish investor action. With very little on the calendar this week price movement will be largely based on coronavirus headlines and risk mood.
Exchange Rates
Current Level: 70.40
Resistance: 70.50
Support: 70.00
Last Weeks Range: 68.61-70.25

The New Zealand Dollar (NZD) found some direction over the week against the Japanese Yen (JPY) climbing from 68.90 to 70.25 Friday. Posting a fresh 3 week daily high of 70.00 the kiwi looks poised to go higher if risk allows. The kiwi has been well supported this week on the resurgence of global risk appetite – pushed along by the news of vaccines for Covid-19. Coronavirus cases in Tokyo have spiked as the country prepares to relax travel restrictions at airports. This couldn’t come at a worse time and could put a strain on hospitals. The kiwi now targets the previous high at 71.60
Exchange Rates
The current interbank midrate is: NZDJPY 70.06
The interbank range this week has been: NZDJPY 68.62- 70.25

The New Zealand Dollar (NZD) edged higher Monday against the Japanese Yen (JPY) to 69.20 in an uneventful start to the week. Risk sentiment recovered in early trading flowing into Tuesday but with macroeconomic event risk this week we suspect the cross could be volatile towards Thursday. On the calendar it is just ANZ Business Confidence for June printing later today. Watch for headlines in the US -China trade negotiations spilling onto tit for tat restrictions on US officials in Hong Kong.
Exchange Rates
Current Level: 69.12
Resistance: 70.00
Support: 68.00
Last Weeks Range: 68.42-69.66

The New Zealand Dollar (NZD) retraced moved lower from 69.65 trading down to 68.40 post RBNZ the announcement against the Japanese Yen (JPY) as Governor Orr delivered a dovish forward guidance. Risks remain to the downside for the kiwi with a lot of work yet to be done to escape from the jaws of coronavirus. If necessary Orr said he would expand on the govt QE package. The NZD recovered losses into Friday back at 69.00. Looking ahead we have Japanese unemployment and ANZ Business Confidence. For now look for price to shape towards 70.00 into the weekly close.
Exchange Rates
The current interbank midrate is: NZDJPY 68.79
The interbank range this week has been: NZDJPY 68.12- 69.65

Price in the New Zealand Dollar (NZD), Japanese Yen (JPY) pair rose off the weekly open at 68.40 to initially gap lower to 68.10 before risk sentiment drove the cross to 69.40 into Tuesday trading. The kiwi continues to find demand on dips in an otherwise quiet week of data. All eyes will be on the RBNZ statement and cash Wednesday with expectations the central bank will leave the cash rate unchanged at 0.25% and continue with their QE program of 60B. We are picking a dovish stance- this being said we could see the kiwi slide.

Exchange Rates
Current Level: 69.27
Resistance: 70.00
Support: 68.00
Last Weeks Range: 68.11-70.00

The New Zealand Dollar (NZD) retreated off 70.00 midweek to drift lower into the mid 68’s The Bank of Japan (BoJ) decided to sit tight at their monetary policy meeting this week but won’t hesitate to increase their govt bond purchases if necessary in the coming months. Yesterday’s NZ first quarter GDP printed lower than predicted at -1.6% adding pressure to the kiwi. The flight to safety trade back into Yen might have the kiwi falling further into the weekly close.

Exchange Rates
The current interbank midrate is: NZDJPY 68.59
The interbank range this week has been: NZDJPY 68.38- 70.02

Any setbacks in the New Zealand Dollar (NZD) should be well supported above 68.20 against the Japanese Yen (JPY) as the kiwi pushes higher off the weekly open above 69.40. Risk off flow seems to have halted for the moment as the Fed announced overnight that they were changing up their bond buying program- markets have reacted positively on the news. The Bank of Japan is expected to bring a dovish tone today to their monetary policy statement and rate release, the BoJ have already said they will do everything necessary to boost the economy and keep yield prices low. A retest at 70.00 looks promising if momentum for the kiwi continues.
Exchange Rates
Current Level: 69.56
Resistance: 71.50
Support: 67.00
Last Weeks Range: 68.20-71.26

The New Zealand Dollar has come off its recent late January 2020 high of 71.65 dropping away to 68.60 into Friday sessions. A fresh bout of “risk off’ has hit market sentiment with second wave coronavirus concerns. Investor reaction to the dovish Fed also bought buyers of JPY back into the fray. The worry for JPY buyers is, does the NZD have enough legs to regain support to retest the prior high or has it run out of steam for now.? Technically if price drifts below 67.80 we could see further downside develop.
Exchange Rates
The current interbank midrate is: NZDJPY 68.51
The interbank range this week has been: NZDJPY 68.22- 71.59

The New Zealand Dollar (NZD) continues to stage a massive reversal against the Japanese Yen reaching 71.60 Tuesday. Now into the third week of its bull run after breaking resistance at 66.00 risk flow has been all NZD action. The pair hit its 71.30 target overnight but has since dropped a little to 71.15 but still looks technically strong. Japan’s economy contracted more than predicted with GDP first quarter releasing -0.6% after -0.5% was expected and formally putting Japan into a recession. ANZ Business Confidence is later today and will be interesting. If we see price stabilise above 71.30 this could pave the way for a move to 73.00 in the coming weeks.
Exchange Rates
Current Level: 70.74
Resistance: 73.00
Support: 70.00
Last Weeks Range: 67.52-71.65

The New Zealand Dollar (NZD) continues to benefit from risk on flows against the Japanese Yen (JPY) and broad based US Dollar weakness climbing to 74.95 Wednesday morning. An extremely quiet week on data should indicate more of the same with the yearly open of 76.20 fast coming into play. We have positive sentiment around the reopening of Tokyo and Osaka going back to normal but for now upward bias in the cross remains.
Exchange Rates
Current Level: 69.66
Resistance: 71.15
Support: 67.00
Last Weeks Range: 66.31-69.75

The Japanese Yen (JPY) has taken a back seat to risk sentiment for most of the week dropping back against the preferred New Zealand Dollar (NZD) to 63.80 Friday. Japan has lifted the Covid-19 state of emergency which turned the Yen a little bid. We are yet to see market fallout from China/US trade tensions, when we do we can expect a sharp reversal south with price falling back into recent ranges. With absolutely nuda on the calendar next week and a NZ holiday Monday we could see price drift a little lower.
Exchange Rates
The current interbank midrate is: NZDJPY 66.52
The interbank range this week has been: NZDJPY 65.48- 67.10

A daily close above the previous high at 66.02 in the Japanese Yen (JPY), New Zealand Dollar (NZD) pair Wednesday to 66.10 marks a possible break higher from the sideways movement we have seen over the last 10 weeks. Recession hit Japan exports plunged 22% for April making it the worst drop in over a decade as Japan struggles to juggle the health risks of coronavirus. Shipments to the US have fallen by 39% while imports only rose 1.6%. Exports to the EU dropped 28% while imported products fell 7%. Japan has an unscheduled monetary policy announcement at 1pm NZT today with expectation of a new “measure” to provide additional funding to financial institutions and banks. The risk recovery and the sell off in the Yen may be short lived if we see price fall back into its recent zone below 66.00 over the next couple of days.
Exchange Rates
The current interbank midrate is: NZDJPY 65.77
The interbank range this week has been: NZDJPY 63.47- 66.24

With risk markets feeling positive around a potential coronavirus vaccine the New Zealand Dollar (NZD) reversed hard off its recent low of 63.50 against the Japanese Yen (JPY) back to 64.80 into Tuesday. Recovering from lower band recent support was almost to be expected, but along with poor Japanese data adding fuel to the fire, the Yen was sold as investors sought more risk products. Japanese GDP estimate for the first quarter came in at -0.9% after the fourth quarter 2019 figures were also recessionary at -1.8%. We expect the cross to push towards the top of the 8-week range to 66.00
Exchange Rates
Current Level: 64.81
Resistance: 65.70
Support: 63.50
Last Weeks Range: 63.45-65.71

The New Zealand Dollar (NZD) returned all of last week’s gains against the Japanese Yen (JPY) as the kiwi underperformed taking the price from 65.80 to 64.00 into Friday. Governor Orr increased the QE package to 60B which was not unexpected but as he spoke about the possibility of negative interest rates towards the end of the year, this was seen as a dovish position to markets sending the kiwi reeling. Next week could see Japan officially slip into a recession with preliminary GDP expected to print around -1.8% for the first quarter of 2020. This comes after 4th quarter 2019 printed -1.6%. The cross sits at the bottom of a 7-week range, we expect the NZD to recover losses back above 66.00 as the kiwi stabalises.
Exchange Rates
The current interbank midrate is: NZDJPY 64.35
The interbank range this week has been: NZDJPY 63.76- 65.79

The New Zealand Dollar (NZD), Japanese Yen (JPY) remains trapped in its 7-week range band between 63.80 on the low side and 66.00 on the high side. Price has supported the kiwi recently as risk appetite has improved taking the cross to 65.80 Tuesday. The People’s Bank of China said they would use more powerful monetary policy in response to the economic aftermath of coronavirus. RBNZ policy statement Wednesday is expected to highlight additional QE stimulus before the Annual Budget release Thursday. We expect a break through the upper band around 66.00 in the coming days.
Exchange Rates
Current Level: 65.13
Resistance:65.80
Support: 64.15
Last Weeks Range: 63.55-65.78

After falling to a 4-week low yesterday of 63.50 against the Japanese Yen (JPY) the New Zealand Dollar (NZD) recovered back to 64.70 as risk markets improved. NZ unemployment jumped a modest 5,000 in the March quarter to take the unemployment rate to 4.2% from 4.0% slightly better than the expected 4.4%. Clearly these first quarter figures only partially reflect the overall economic fallout from coronavirus with expectations of employment and growth to rise significantly over the second and third periods. Prime Minister Abe will keep Japan in a state of emergency until 31 May saying it was necessary to reduce the number of new cases and limit the strain on hospitals. The Bank of Japan announced they would be expanding its monetary stimulus by buying unlimited amounts of bonds in order to keep borrowing costs low. The pair is still trading in a range from mid March with the upper band price at 66.00 looking like it could be retested in the coming days.
Exchange Rates
The current interbank midrate is: NZDJPY 64.81
The interbank range this week has been: NZDJPY 63.55- 64.90

The New Zealand Dollar (NZ) extended its decline off the weekly open from last week against the Japanese Yen (JPY) to 64.15 before recovering into Tuesday. Prime Minister Abe will keep Japan in a state of emergency until 31 May saying it was necessary to reduce the number of new cases and limit the strain on hospitals. The Bank of Japan announced they would be expanding its monetary stimulus by buying unlimited amounts of bonds in order to keep borrowing costs low. Focus this week is with NZ Unemployment figures tomorrow and quarterly Inflation expectations Thursday.
Exchange Rates
Current Level: 64.53
Resistance: 66.00
Support: 64.10
Last Weeks Range: 64.11-66.09

The New Zealand Dollar (NZD), Japanese Yen continues to operate within recent ranges this week, overnight a little higher to 64.78. The Bank of Japan left rates on hold yesterday at -0.10% and offered additional easing measures including further bond buying and small changes to policy going forward. Japan’s unemployment rate rose 2.5% in March the highest it has been in 12 months highlighting the effects the virus is having on the economy- this compares to the 2.4% in February. On the chart the pair looks poised for a breakout in the current pattern setup, but we are not sure which way with uncertainty in the air.
Exchange Rates
Current Level: 64.88
Resistance: 65.40
Support: 64.30
Last Weeks Range: 63.71-65.60

The New Zealand Dollar (NZD) perked up overnight recovering from 63.80 against the Japanese Yen (JPY) to trade back around the 65.00 mark as risk currencies were preferred. It’s understood the Bank of Japan may improve its bond buying limit when they meet next week allowing unlimited government bond purchases and keeping the 10 year target at 0%. The massive stimulus package is expected to weigh on Tokyo’s budget at a time the country is trying to avoid a coronavirus led recession. Rallies in the cross look limited and we suspect a risk off run over the following days could take us much lower.
Exchange Rates
The current interbank midrate is: NZDJPY 64.50
The interbank range this week has been: NZDJPY 63.72- 65.60

The New Zealand Dollar (NZD) continued its bullish move from last week against the Japanese Yen (JPY) to 65.60 after Prime Minister Ardern confirmed NZ would be moving out of lockdown level 4 on the 27th of April yesterday. The kiwi was also boosted earlier from higher inflation numbers published for the March quarter. With a thin calendar this week in the pair focus will be on Japan’s building coronavirus numbers and the warning doctors have given the health system of a possible collapse. The bullish trendline from late March’s 61.80 looks intact and should give the kiwi further upside bias this week.
Exchange Rates
Current Level: 66.00
Resistance: 64.84
Support: 64.00
Last Weeks Range: 63.83-66.00

Risk on sentiment this week has boosted the New Zealand Dollar (NZD) to 66.15 against the Japanese Yen (JPY) a four week high. As many traders return from the Easter break China’s Trade Balance report didn’t look too horrible as the country emerges from coronavirus lockdowns. The report showed a drop in exports of 6.6% from a year earlier after a 17.0% drop between January and February. US equity markets surged higher over 3% overnight and continue to leave the late March lows behind. We see upside bias from 65.30 levels this week.
Exchange Rates:
The current interbank midrate is: NZDJPY 65.04
The interbank range this week has been: NZDJPY 64.50- 66.15

US stocks/equities have climbed over 5% overnight with risk markets improving as coronavirus data out of the US and Italy improves- mood improves. The Japanese Yen has been sold across the board with the New Zealand Dollar improving to 65.00 from the weekly open of 63.60. Tokyo unveiled a massive 1Trillion support stimulus package to curb the ongoing economic fallout from Covid-19. Japan’s Prime Minister has declared a national emergency but refuses to bring in a nationwide lockdown. If numbers across the globe fall “risk” will benefit and push the kiwi higher.

Exchange Rates:
Current Level: 64.71
Resistance: 66.00
Support: 63.00
Last Weeks Range: 63.08-65.49

The New Zealand Dollar (NZD) is trading just off the week’s open of 65.10 against the Japanese Yen (JPY) at 63.80 Friday and looks reasonably stable having rejected 63.20 several times this week. Risk sentiment is still the main driver behind the pair as we see a little more JPY demand starting to come through. The Bank of Japan has offered discouraging headlines with PM Abe proposing a record 60 Trillion stimulus package which is worth more than 10% of the country’s GDP. This comes less than 4 months after his last economic stimulus. This package is bigger than the one needed to boost the economy during the 2008 GFC. Japan is in risk of a deepening economic recession due to the pandemic. We are picking further risk related NZD declines next week and could retest the fortnight low of 61.90

Exchange Rates:
The current interbank midrate is: NZDJPY 63.94
The interbank range this week has been: NZDJPY 63.07- 65.47

The New Zealand Dollar (NZD) has broken the recent bearish trendline against the Japanese Yen (JPY) around 63.80 climbing to 66.10 overnight amid a bout of huge US Dollar weakness as US equities bounce higher. The kiwi was well supported as we have seen a little more “risk” buying take place. With the Bank of Japan’s massive QE program in place which will continue for some time, the central bank is worried the economy will stagnate well after overseas economies recover with the impact of coronavirus expected to be enormous. It’s almost inevitable the bank will expand stimulus again in April if the pandemic leads to massive job losses. Given the poor risk sentiment over the past couple of weeks heading into the weekend we could see a pullback towards 63.50 – buyers of JY should consider the current price around 65.00.

Exchange Rates:
The current interbank midrate is: NZDJPY 64.79
The interbank range this week has been: NZDJPY 61.82- 65.82

A small window of “risk off” Monday saw the New Zealand Dollar (NZD) push higher to 63.50 against the Japanese Yen (JPY). Central bank stimulus has been the number one ticket in town with multiple central banks making announcements daily to increase cash stimulus to economies in corona virus affected countries across the globe. The Bank of Japan has offered to buy 800 Billion in 3 -10 year bonds on top of other scheduled bond buying. Price should bunce off the 50-day moving average today and continue its path lower. We have data publishing this week- not that markets are taking any notice at the moment.

Exchange Rates:
Current Level: 63.70
Resistance: 65.00
Support: 61.70
Last Weeks range: 59.52-65.22

Central bank stimulus has been the number one ticket in town with multiple central banks making announcements daily to increase new stimulus to economies and the corona virus affected increase across the globe. The New Zealand Dollar (NZD), Japanese Yen (JPY) pair for the first time in many many years broke through 60.00 reaching 59.50 before recovering on news NZ has closed its borders to everyone except permanent residents or citizens. Price sprung back to 64.80 levels would you believe settling around 64.00 in the past few hours. As risk sentiment weighs further on the kiwi we will see levels again in the 50’s pretty soon.

Exchange Rates:
The current interbank midrate is: NZDJPY 63.67
The interbank range this week has been: NZDJPY 59.48- 65.68

The New Zealand Dollar is trading just below the weekly open at 64.45 against the Japanese Yen (JPY) after an action packed start to the week. The RBNZ dropped the cash rate 0.75% to 0.25% and the Bank of Japan rolled out their own measures to combat the effects of coronavirus. They said they would assist companies to obtain additional lending and double stock purchases. Risks are still slanted to the downside in the pair with coronavirus risk weighing heavy. It doesn’t feel right to say this after massive falls recently but at 64.40 buyers should consider.

Exchange Rates:
Current Level: 64.40
Resistance: 68.00
Support: 63.30
Last Weeks Range: 63.07-66.61

We saw a little relief for the New Zealand Dollar (NZD) Wednesday against the Japanese Yen (JPY) as risks improved with the kiwi improving to 66.60. With attention on coronavirus and the WHO declaring it a pandemic yesterday as well as President Trump declaring a travel ban on Europe markets turned “risk off ‘’ again into Thursday. Prices dropped sharply mid-afternoon to 64.70 where it currency sits. Bank of Japan’s Kuroda reassured markets that the central bank wouldn’t hesitate to take the necessary measures when due. The problem being the bank may struggle to deal with virus stimulus, with the bank unable to bolster the economy in recent years with monetary policy and achieve their 2.0% inflation target. We see no end in sight and the freefall continuing for while yet in wave selling of NZD.

Exchange Rates:
The current interbank midrate is: NZDJPY 64.30
The interbank range this week has been: NZDJPY 62.08- 66.57

As markets kicked off the trading week yesterday we knew things would be different. For weeks now markets have been treading water not entirely sure how to react. Yesterday’s massive sell off in equities and Crude Oil (a separate issue) was enough for investors to flee to the safe haven assets amid the market “flash crash”. With the major equity indices worldwide posting steep losses traders bought the Japanese Yen (JPY). The New Zealand Dollar (NZD) dropped to 61.50 levels super quick before returning to normality around 65.00 this morning. The kiwi is still under enormous pressure and could drop again in another wave of volatility spook selling.

Exchange Rates:
Current Level: 65.23
Resistance: 67.10
Support: 63.45
Last Weeks Range: 61.21-68.05

The Japanese Yen (JPY) remains in demand this week against most of the major currencies including the New Zealand Dollar (NZD) with price turning at 67.80 and continuing its bearish momentum to just under 67.00 levels Friday. Boosted by the downturn in risk sentiment caused by increases in coronavirus cases around the globe. The Bank of Japan was said to be considering downgrading its economic assessment in March due to the ongoing impact of the virus with Kuroda saying he will continue to monitor markets and act if needed. We expect the NZD to drift lower as the week closes and target the 66.30 level from last August.

Exchange Rates:
The current interbank midrate is: NZDJPY 67.15
The interbank range this week has been: NZDJPY 66.61- 68.04

The New Zealand Dollar (NZD) broke through psychological support at 70.00 Tuesday against the Japanese Yen (JPY) to post a fresh low of 69.16. Risk sentiment has taken the kiwi lower as coronavirus continues to weigh on markets. Thursday’s price action lifted the kiwi back to 69.70 but we suspect this is only a short breather with equities all down on the day. Softer NZ business confidence put the NZD under further strain Thursday with price looking to retest the low today as things deteriorate in the coronavirus war.

Exchange Rates:
The current interbank midrate is: NZDJPY 69.08
The interbank range this week has been: NZDJPY 68.92- 70.67

Price action in the New Zealand Dollar (NZD), Japanese Yen (JPY) pair has seen the pair drop back to the bottom of the band to 70.15. Coronavirus is again the centre of attention and media headlines with more confirmed cases affecting markets especially as reports circulate of six deaths and 229 new cases in Italy. The pair hasn’t closed below 70.03 in 2020 but with risk market products all taking losses we could see a break below 70.00 over the coming days, we think it’s just a matter of time. Japanese data this week is limited to the Unemployment Rate and Retail Sales with NZ ANZ Business Confidence later in the week. If you are a Yen buyer locking in anything post 70.00 is golden.

Exchange Rates:
Current Level:70.28
Resistance: 71.30
Support: 70.00
Last Weeks Range: 70.07-71.18

The New Zealand Dropped to the bottom of the recent band at 70.05 against the Japanese Yen (JPY) but recovered midweek to the 71.10 area amid poor Japanese data prints. Machinery Orders were a large miss and GDP for the fourth quarter fell short shrinking by 1.6% and annualised 6.3%. This is the largest fall since 2014 sparking talk of a possible recession looming. Next week’s NZ Retail Sales and Business confidence comes into focus with the Japanese employment rate late in the week. The top of the four week range is 71.40 levels, we expect the kiwi to give back gains over the coming days.

Exchange Rates:
The current interbank midrate is: NZDJPY 70.95
The interbank range this week has been: NZDJPY 70.08- 71.17

Price in the New Zealand Dollar (NZD), Japanese Yen (JPY) has flatlined over the past 4 days hovering around 70.70 levels. This represents the mid point of the recent three week band between a high of 71.30 and the low at 69.98, also the yearly low. Last week’s RBNZ meeting saw the central bank leave rates unchanged at 1.0% saying there would be no further cuts this year sending the kiwi higher. Fourth Quarter Japanese GDP disappointed yesterday coming in at -1.6% from the -1.0% we were expecting with the economy shrinking a considerable annualised 6.3% in 2019. We may see a return to the top of the band I mentioned at 71.30 this week on a lack of tier one data if coronavirus doesn’t shift markets to “risk off”.

Exchange Rates:
Current Level: 70.66
Resistance: 72.25
Support: 70.00
Last Weeks Range: 70.00-71.34

Price in the New Zealand Dollar (NZD), Japanese Yen pair returned to last week’s high of 71.31 from the early week low of 70.01 but ran out of puff returning to 70.70 Friday. The RBNZ left rates unchanged at 1.0% saying there would be no further cuts this year in the statement. Inflation is close to the target 2.0% and unemployment at maximum levels
A change in stance from an expected dovish bias to a neutral tone was all the kiwi needed to push higher. We have nothing on the calendar next week, risk markets will be the main driver such as events unfolding with coronavirus.

Exchange Rates:
The current interbank midrate is: NZDJPY 70.64
The interbank range this week has been: NZDJPY 69.99- 71.33

Price action in the New Zealand Dollar (NZD), Japanese Yen (JPY) pair will continue to be impacted by new information in the coronavirus global risk front. The kiwi has come off the 11 month low to trade back at 70.25- above pivotal 70.00 support, but as fears of containment of the virus hit the media we could see the kiwi go lower. This week’s NZ employment data is our focus with unemployment expected to stay at 4.2%.

Exchange Rates:
Current Level: 70.12
Resistance: 72.00
Support: 69.80
Last Weeks Range: 69.95-71.50

The New Zealand Dollar (NZD) has fallen away sharply this week to 70.50 into Friday extending last week’s losses against the safe haven Japanese Yen (JPY). Coronavirus has dominated headlines with risk related products such as the kiwi being sold off in preference for safer assets. With no tier one data to publish this week direction has been purely risk related. Support is identified at 70.00 should the kiwi drop further, certainly if global risks associated with the virus escalate, we could easily see further NZD weakness. Next week’s NZ employment data Wednesday will eventually come into focus.

Exchange Rates:
The current interbank midrate is: NZDJPY 70.68
The interbank range this week has been: NZDJPY 70.39- 71.84

Risk markets have affected the Japanese Yen (JPY) currency across the board as the safe haven JPY is preferred buyers get back into Yen. The New Zealand Dollar (NZD) sank off the Monday open from 72.40 to 71.55 off the bat then failed to regain Friday’s momentum dropping further into Tuesday to a fresh early December 2019 low of 71.25. Japanese Consumer Confidence and later Unemployment rate are the key releases. The kiwi is looking very heavy as currencies digest the outcome from coronavirus- near term support is 70.30

Exchange Rates:
Current Level: 71.24
Resistance: 73.35
Support: 70.00
Last Weeks Range: 71.21-72.88

The Bank of Japan left rates unchanged on Tuesday and painted a brighter economic outlook. The central bank maintained its interest rate and growth targets, lifting the GDP forecast for the first time in over 12 months. The Japanese Yen (JPY) recovered last week’s losses to 72.10 against the New Zealand Dollar (NZD) as markets became nervous around the outbreak of coronavirus after the World Health Organisation were holding an emergency meeting to discuss measures. The virus will have a massive impact on markets until its confirmed as contained or good news starts to flow through media. NZ CPI for the fourth quarter 2019 published this morning at 0.5% based on 0.4% expected showing rises to rental costs and airfares sending the cross to 74.50

Exchange Rates:
The current interbank midrate is: NZDJPY 72.46
The interbank range this week has been: NZDJPY 71.91- 72.96

The New Zealand Dollar (NZD) drifted lower Monday against the Japanese Yen (JPY) to 72.60 but recouped losses into Tuesday back to 72.85. This week’s excitement lies with the Bank of Japan (BoJ) rate announcement and policy statement, the first central bank meeting for 2020. The BoJ are likely to maintain their recent policy as global risks subside. The long-term trend looks to support a retest of the yearly high of 73.50 but this week’s NZ quarterly CPI will be key. Expectations are for a rise in CPI by 0.4% following a rise of 0.7% in the third quarter 2019. Anything above 04% should support the kiwi.

Exchange Rates:
Current Level: 72.75
Resistance: 73.50
Support: 72.60
Last Weeks Range: 72.36-73.33

Risk improved Thursday as the Phase one trade deal between China and the US was officially signed taking the New Zealand Dollar (NZD) higher off 72.30 to 73.30 against the Japanese Yen (JPY) early Friday. Bank of Japan’s governor Kuroda spoke yesterday highlighting his positive outlook for the Japan economy in 2020, but said he would not hesitate to ease monetary measures if required. “Japan’s economy is likely to continue on a moderate expanding trend”. Price trades just shy of the 9 month high of 73.52. Next week’s BoJ monetary policy statement is the focus with NZ quarterly CPI printing Friday.

Exchange Rates:
The current interbank midrate is: NZDJPY 73.07
The interbank range this week has been: NZDJPY 72.34- 73.33

2019 price points…open 72.45, close 73.15, high 76.78, low 66.28.
The New Zealand Dollar (NZD) recovered well from the midweek dip to 71.25 against the Japanese Yen (JPY) bouncing higher to close at 72.65 before continuing through to 72.90 Tuesday. NZIER Business Confidence showed an improvement in business confidence in the last quarter of 2019 with less surveyed people expecting a worsening economy in 2020. Price was marginally higher post release with the pair eying the December high of 73.50. Bank of Japan’s (BoJ) Kuroda speaks tomorrow and could cause volatility

Exchange Rates:
Current Level: 72.91
Resistance: 73.50
Support: 72.60
Last Weeks Range: 71.25-72.98

Stats from last year’s trading in the New Zealand Dollar (NZD), Japanese Yen (JPY) pair which may be of interest…2019 open 72.45, close 73.15, high 76.78, low 66.28. Price dropped away Wednesday after markets turned risk off over US and Iran conflicts – Iran sending over a dozen missiles into Iraq at US based coalition targets. Iran has said be “standing down” which bought back more calm to markets into Thursday with levels back at 72.60.

Exchange Rates:
The current interbank midrate is: NZDJPY 72.54
The interbank range this week has been: NZDJPY 71.23- 72.68

After reaching a high of 72.66 last Friday, a 5 month high, the NZD has pulled back on this cross to 71.88, as the risk-averse tone took affect. Overnight news of a “hard” Brexit potentially back on the table spooked markets. The pair has been on a broad uptrend since the beginning of October and any return of a risk-on tone should see return to upward momentum to the 73.10/20 level over the next few weeks.

Exchange Rates:
The current interbank midrate is: NZDJPY 71.85
The interbank range this week has been: NZDJPY 71.90- 72.43

The NZD was higher on this cross as the “risk-on” tone took effect and the safe haven Yen lost some of its lustre. Overnight this cross traded up to the highest level in nearly 5 months with the NZD/JPY at 72.38, it is still holding over the 72.30 level and should hold around current levels heading into next week, with a successful US/China trade deal announcement leading to further NZD consolidation and potential to build on recent gains towards 72.85.

Exchange Rates:
The current interbank midrate is: NZDJPY 72.30
The interbank range this week has been: NZDJPY 70.86- 72.66

With risk sentiment reasonably positive this week the New Zealand Dollar (NZD) has outperformed the Japanese Yen (JPY) climbing to a fresh four month high of 71.40. 2019 started around mid 74.00 in the pair and reached a yearly low of 66.28 late August. Since then, the kiwi has bounced back well, and may even reach the yearly open before 2020 if risk allows (phase one trade deal) and key quarterly GDP prints well in the coming weeks.

Exchange Rates:
The current interbank midrate is: NZDJPY 71.12
The interbank range this week has been: NZDJPY 70.26- 71.42

Risk markets improved Monday, the New Zealand Dollar (NZD) travelling higher to 71.05 against the Japanese Yen (JPY) before easing back to 70.90 into Tuesday. Positive Chinese Manufacturing data early Monday and Trump’s tweet suggesting he wants the Fed to lower rates further to devalue the US Dollar took investors out of the Yen. The kiwi is trading in thin air after finally breaching resistance at 70.00, prospects of a phase one trade deal between the US and China will be pivotal to achieving the 72.50 resistance level of late July.

Exchange Rates:
Current Level: 70.86
Resistance: 72.00
Support: 70.50
Last Weeks Range: 69.81-71.09

The New Zealand Dollar (NZD) broke out of its recent range against the Japanese Yen (JPY) to 70.40 Friday to post an early August fresh high. The upper band at 70.00, that has held for months, was breached on better than expected NZ data. Retail Sales came in higher than estimates and ANZ Business Confidence was stronger with the headline figure rising 16 points with a net 26% of surveyed saying they expect business conditions to deteriorate over the coming year. Risk factors may play a part in the coming days after President Trump officially supported HK protesters which could have flow on effects in the trade negotiations between the two countries. We expect price to reverse back below 70.00 in effect.

Exchange Rates:
The current interbank midrate is: NZDJPY 70.26
The interbank range this week has been: NZDJPY 69.63- 70.34

The New Zealand Dollar (NZD) endeavoured to break the topside resistance at 70.00 Monday against the Japanese Yen (JPY) but ran out of puff around 69.95 backtracking to mid-69’s Tuesday. Every time we see the kiwi fail to break through the 70.00 upper band this strengthens this area further. Talk that the US and China have agreed a general phase one deal have yet to filter through into currencies, if the news becomes real we should see the kiwi go much higher on risk sentiment. ANZ Business Confidence prints Thursday.

Exchange Rates:
Current Level: 69.90
Resistance: 70.00
Support: 68.80
Last Weeks Range: 69.24-70.00

With nothing on the calendar this week for the Japanese Yen (JPY), New Zealand Dollar (NZD) pair trading has been very choppy. The cross is still operating in a four week range between around 69.00 and 70.00 with it currently 10 points lower than the weekly open Friday at 69.50. Japanese Trade Balance missed the mark printing lower than expected at -0.03T compared to 0.26T, representing a deficit instead of a surplus. Trade war tensions are said to be blamed for the sharp turnaround in Japanese exports. We need to see a break above 70.00 to see further kiwi dominance but this looks a bridge too far, perhaps next week’s ANZ Business Confidence and Retail Sales bring buyers back.

Exchange Rates:
The current interbank midrate is: NZDJPY 69.55
The interbank range this week has been: NZDJPY 69.22- 69.93

With nothing on the calendar this week for the Japanese Yen (JPY), New Zealand Dollar (NZD) pair any movement will be based on offshore headlines. The cross is still operating in a four week range between around 69.00 and 70.00 with it slightly lower than the weekly open currently at 69.52 Tuesday. Sitting right around the 100 and 50 day moving average on the daily chart suggests we have stalled with the pair awaiting its next cue for direction.

Exchange Rates:
Current Level: 69.50
Resistance: 70.00
Support: 69.00
Last Weeks Range: 68.88-69.90

The New Zealand Dollar (NZD) climbed to post a new weekly high of 69.90 against the Japanese Yen (JPY) after the RBNZ cash rate announcement. Governor Orr left the benchmark rate unchanged at 1.0% surprising markets after a cut was generally expected. He didn’t see the need cutting further based on aggressively cutting 50 points in August and with inflation expectations reasonably in line with expectations. Risk sentiment came under pressure Thursday feeling the stress from renewed uncertainty surrounding the US- China trade outlook taking the kiwi back to trade around the weekly open at 69.00 levels. This represents the bottom of a three week band of support, a drop below 68.80 could see further selling of NZD on risk deterioration.

Exchange Rates:
The current interbank midrate is: NZDJPY 69.16
The interbank range this week has been: NZDJPY 68.87- 69.89

Price on the weekly open bounced higher retracing some of last week’s losses to 69.45 against the Japanese Yen (JPY). The four week low in the current range band remains intact for now with the RBNZ announcement the focus this week. Expectations are around 70% of a cut to the 1.0% rate tomorrow when the RBNZ meet. We think as a reflection of recent data we will see a 25 basis point cut to 0.75% and the NZD shift lower. Price above 70.00 looks unlikely.

Exchange Rates:
Current Level: 69.38
Resistance: 70.00
Support: 69.00
Last Weeks Range: 68.97-69.99

The New Zealand Dollar (NZD) suffered this week on the back of poor jobs data falling to 69.00 against the Japanese Yen (JPY). Friday morning though has seen a recovery with risk fears dissipating the NZD has pushed back towards 69.60. With the NZ unemployment rate jumping to 4.2% from 3.9% this shows a significant rise, the chances of the RBNZ cutting rates next week has not been priced into this cross. We expect the kiwi to retest recent support at 68.95 in the coming hours/days. The 50 day moving average at 68.40 looks to be a target.

Exchange Rates:
The current interbank midrate is: NZDJPY 69.55
The interbank range this week has been: NZDJPY 68.97- 70.02

The New Zealand Dollar (NZD) retested last week’s high of 69.95 Thursday as risk conditions improved but failed to extend higher. The Japanese Yen (JPY) regained the edge taking price back to 69.15 into Friday after the Bank of Japan (BoJ) refrained from speaking on any policy changes. The central bank kept their short term rate at -0.10% and the long term 10 year government bond yield target at zero. The bank expects short and long term interest rates to stay at the current low levels for some time yet. We expect price to drift lower through to Wednesday’s NZ employment release.

Exchange Rates:
The current interbank midrate is: NZDJPY 69.20
The interbank range this week has been: NZDJPY 68.94- 69.88

The New Zealand Dollar (NZD), Japanese Yen (JPY) pair moved higher to 69.95 earlier in the week extending last week’s rise from 67.85 but ran out of puff as risk sentiment deteriorated. NZ Trade Balance for September printed -1242M from -1375M boosting the kiwi as price temporarily was back around 69.80 into Thursday. Next week’s Bank of Japan and NZ ANZ Business Confidence are the highlights, with discouraging recent Japanese PMI results highlighting concerns of global growth, it will be interesting to see what road the BoJ go with policy.

Exchange Rates:
The current interbank midrate is: NZDJPY 68.28
The interbank range this week has been: NZDJPY 69.01- 69.94

Last week’s risk mood continued through currencies after the open in the New Zealand Dollar (NZD), Japanese Yen (JPY) cross extending to 69.65 early Tuesday. Early news from Japanese Trade figures showed a continuing decline in exports with -0.17T publishing undermining the Yen as it back peddled. A thin economic card this week should see offshore geopolitical risk factors come into play. 70.40 is the near term target this week.

Exchange Rates:
Current Level: 69.65
Resistance: 70.40
Support: 69.30
Last Weeks Range: 67.84-69.66

After a slump to 67.90 midweek the New Zealand Dollar (NZD) has surged to a fresh four-week high Friday to 70.00. Boosted by a change in risk sentiment and improved quarterly inflation figures. CPI printed at 0.7% up from the 0.6% we were expecting. The Bank of Japan’s Kuroda spoke of inflation moving around the 0.5% mark and the BoJ would continue to expand its monetary base until inflation exceeds the 2.0% target. The news had little impact on price. Looking ahead to next week we have Japanese and NZ Trade Balance publishing.

Exchange Rates:
The current interbank midrate is: NZDJPY 69.10
The interbank range this week has been: NZDJPY 67.84- 69.12

The New Zealand Dollar (NZD) came off its Friday high of 68.00 against the Japanese Yen (JPY) Monday as risk sentiment shifted negative. As the US China trade deal “phase one” optimism faded over a lack of proper substance the kiwi dropped back to 68.00 early Tuesday. With risk markets looking increasingly vulnerable at a time when central banks are easing policy as well, we see further downside developing in this cross. This week’s focus will be on quarterly NZ CPI which is expected to print at 0.6% growth for the third quarter. Buyers of JPY should consider levels above 68.00

Exchange Rates:
Current Level: 68.23
Resistance: 69.00
Support: 68.00
Last Weeks Range: 67.21-68.98

Better performance by the NZD on this cross overnight as the increase in risk appetite saw the JPY lose appeal…currently trading around 68.16 after making the high of the week overnight at 68.28. A push towards 68.80 is possible over the day if the US/China trade news remains positive…Higher levels should be seen as NZD selling opportunities as we remain sceptical that the trade war will abate anytime soon.

Exchange Rates:
The current interbank midrate is: NZDJPY 68.22
The interbank range this week has been: NZDJPY 67.12- 68.34

The New Zealand Dollar (NZD) dipped to a four week low Wednesday of 66.90 against the Japanese Yen (JPY). Overall Business confidence has taken a hit after two reports showed the lowest level since the 2008 financial crisis. Business improvements in growth over the coming 12 months looks shaky, overall most surveyed were not looking at hiring additional staff. The Bank of Japan’s Wakatabe was on the wires saying the Bank of Japan have policy options and don’t want to continue with low and negative rates over the long term. The cross remains well below the 100 day moving average highlighting the ongoing bearish theme in the pair.

Exchange Rates:
The current interbank midrate is: NZDJPY 67.40
The interbank range this week has been: NZDJPY 66.92- 67.95

The New Zealand Dollar (NZD), Japanese Yen (JPY) pair immediately tracked lower off the weekly open to 67.40 after NZ ANZ Business confidence printed lower. Overall Business confidence has taken a hit after the report showed the lowest level since the 2008 financial crisis. Business improvements in growth over the coming 12 months look rather pessimistic with overall most surveyed were not looking at hiring additional staff. NZ Institute of Economic Research todays showed further weakness in business opinion with most expecting economic conditions to worsen over the coming months. With no additional data on the calendar this week the kiwi should continue to ease and retest the long term low of 66.50
Exchange Rates:
Current Level: 67.63
Resistance: 68.00
Support:67.50
Last Weeks Range: 67.39 68.26

The New Zealand Dollar (NZD), Japanese Yen (JPY) pair has been choppy this week mainly due to risk shifts in general sentiment. The cross briefly eyed last week’s low of 67.20 before spiking higher reaching 68.18 before falling back again. The Reserve Bank of New Zealand left the official cash rate unchanged on Wednesday at 1.0% but said there’s still room to cut further if necessary. The result was priced into expectations after the RBNZ surprised markets at their & August outing by cutting 50 points. Meeting inflation targets and maintaining high employment are the key focus looking ahead for the central bank amid a weakening global outlook. With the kiwi trading perilously close to the multi-year low of 66.25 it won’t take much of a shift in risk sentiment to retest this crucial level with downside bias remaining.
Exchange Rates:
The current interbank midrate is: NZDJPY 67.80
The interbank range this week has been: NZDJPY 67.20- 68.18

With risk improving Monday the New Zealand Dollar (NZD) improved off the weekly close of 67.25 back to 67.65 against the Japanese Yen (JPY). News from the Chinese Ministry of Commerce suggesting they had downplayed the significance of cancelling the US farm visits took equity markets and risk flows higher. Wednesday’s RBNZ cash rate announcement holds market focus this week with no expectation of a cut by Orr just yet based on the aggressive 50 point cut in August. Timing of the next cut will be key with at least a further cut priced in towards the end of the year. Downside bias remains for the kiwi.
Exchange Rates:
Current Level: 67.69
Resistance:68.50
Support: 67.20
Last Weeks Range: 67.21-68.78

The Bank of Japan (BoJ) left their cash rate unchanged at -0.10% Thursday and called for further analysis of their monetary policy in the October meeting choosing to sit tight for now. The New Zealand Dollar (NZD) has continued to trade lower over the week even with a supportive GDP, sliding to 68.00. Figures showed for the June quarter Gross Domestic Product rose 0.5% a little less than the 0.6% for the March quarter but slightly higher than the 0.4% expected. It wasn’t enough to rally the kiwi surprisingly with investors choosing to sell the NZD based on a wider picture outlook. From here there’s a strong likelihood of retesting the early September low of 67.00
Exchange Rates
The current interbank midrate is: NZDJPY 67.85
The interbank range this week has been: NZDJPY 67.84- 68.95

The New Zealand Dollar was hammered off Monday’s open, trading down to 68.50 against the Japanese Yen (JPY) as risk sentiment was hit hard off the back of events in Saudi Arabia. An oil field was drone bombed over the weekend, affecting the supply of crude to the market sending the crude price to 62.50 per barrel. Buyers bought the JPY and will continue to bid the currency higher until normality is restored. Worse than expected Chinese data hasn’t helped the mood either contributing to the risk off tone. NZ GDP q/q prints Thursday on the docket followed by the Bank of Japan cash rate and monetary policy statement. Has price turned lower off the recent high of 69.70?, A break below 68.00 will confirm further downside.
Exchange Rates
Current Level: 68.60
Resistance: 69.30
Support: 66.75
Last Weeks Range: 68.44-69.68

The New Zealand Dollar (NZD) has been well supported this week continuing its bullish run from last week against the Japanese Yen (JPY) in a healthy risk appetite market. Price rose to 69.65 before falling slightly to 69.25 Friday extending higher off the 100 day moving average we spoke of last week. Attention now falls to next week’s NZ GDP q/q as well as the Bank of Japan monetary policy meeting. The big story this week has been the deferral of tariffs on Chinese products by two weeks after China waived tariffs on 16 US products. Buyers of JPY are not out of the weeds just yet as we still see the bearish tone continuing- on the current spike over 69.00 this does represent good buying levels compared to last week’s 66.60 low.
Exchange Rates
The current interbank midrate is: NZDJPY 69.29
The interbank range this week has been: NZDJPY 68.50- 69.67

Risk appetite advanced into Monday with a healthy boost in US equities and risk associated products. The New Zealand Dollar (NZD) drove higher to 68.68 against the Japanese Yen (JPY) from the midweek low of 66.65 as it eyes a retest of 70.00, extending higher off the 100 day moving average we spoke about week. Monday’s Japanese pool of data published poor with Bank Lending and the Current Account printing below expectations. NZ Business Manufacturing index is Friday. We see no hint of any change in sentiment for the moment which lends price to possibly go higher this week in this cross.
Exchange Rates
Current Level: 69.08
Resistance: 70.40
Support: 68.50
Last Weeks Range: 66.66-69.12

The New Zealand Dollar (NZD) has recovered off the weekly open of 66.70 on improved risk mood against the Japanese Yen (JPY) based mainly off events unfolding in Hong Kong. Equity markets all posted over 1% gains Thursday after Hong Kong’s leader Carrie Lam withdraw the Anti- Extradition bill. On the chart the 100 days moving average is now below the current price for the first time since late July indicating further topside momentum may continue – as long as risk sentiment allows. Next week we only have the Performance of Manufacturing Index on the local calendar. If need a close above 68.40 to confirm the bullish direction.
Exchange Rates
The current interbank midrate is: NZDJPY 68.23
The interbank range this week has been: NZDJPY 66.65- 68.37

With risk sentiment affecting the New Zealand Dollar’s (NZD) performance over the past several weeks against the Japanese Yen (JPY) it’s hard to see any NZD relief in sight. Monday’s action has the NZD holding up around the 67.00 area. This week we have no tier one data to publish which would suggest the pair will be pushed around by offshore headlines. If another risk off tone develops, more than likely based around Trump’s trade negotiations, we could see much further falls eventuate for the kiwi. Just above the multi-year low of 66.30 now a break lower here would almost certainly seal a wider picture downward bias.
Exchange Rates
Current Level: 66.86
Resistance: 68.50
Support: 66.30
Last Weeks Range: 66.72-67.93

The New Zealand Dollar (NZD) looks to be well capped below 68.00 levels against the Japanese Yen (JPY) with six weeks’ straight of declines with the cross trading at 67.20 Friday. Trump’s trade war rages forward. Tuesday saw a recovery by the kiwi off 66.30 levels trading back to 67.95, a weekly high, after Chinese reports suggested they would like to meet US officials and re-open trade talks. Poor ANZ Business confidence figures showed optimism fell to -52.3 from the predicted -44.3 down 8 points with businesses expecting conditions to worsen over the coming year, the lowest since 2008. Any rallies in the cross should be met with stiff resistance but represent buying opportunities as the kiwi continues its downward bias.
Exchange Rates
The current interbank midrate is: NZDJPY 66.95
The interbank range this week has been: NZDJPY 66.32- 67.92

Another wave of risk market sensitivity sent the New Zealand Dollar (NZD) lower against the Japanese Yen (JPY) to 66.30 Monday to extend recent declines. Trump’s trade war rages on sending mixed signals to markets as investors try to work out when will it end. Tuesday the kiwi reversed losses trading back to 67.75 after Chinese reports suggested they would like to meet US officials and re-open trade talks. Looking ahead we only have ANZ Business confidence on the calendar this week. Overall further uncertainties will continue to taunt market sentiment thus keeping the kiwi well offered for a while yet. Clients looking to convert JPY to NZD should consider trading at current levels, being close to the best levels since 2012.
Exchange Rates
Current Level: 67.61
Resistance: 70.40
Support: 66.25
Last Weeks Range: 66.32-68.50

It was something of a quiet week for this pair up until yesterday when a bout of New Zealand dollar weakness drove the pair back down toward recent lows trading at 67.70. There was no particular driver for the weakness in the NZD and with the recent cycle lows close by at 67.55, the pair may find some near term support. Clients looking to convert JPY to NZD should consider trading at the current rate, being close to the best levels since 2012.

Exchange Rates
The current interbank midrate is: NZDJPY 67.80
The interbank range this week has been: NZDJPY 67.70 – 68.51

The New Zealand Dollar (NZD), Japanese Yen (JPY) cross remains flatlined trading around the 68.30 area Tuesday. One gets the feeling that if markets turn risk averse this week the kiwi could sniff 67.50 the prior low. Certainly the Tanken Japanese results were not the best way to start the week for the Yen, focus is now with NZ Retail Sales to gauge further direction.

Exchange Rates
Current Level: 68.32
Resistance: 68.90
Support: 67.60
Last Weeks Range: 67.55-69.16

With risk sentiment improving Tuesday the New Zealand Dollar (NZD) caught a break with investors exiting Japanese Yen (JPY) positions the kiwi rose back to 69.15. This wasn’t before some earlier pain with the cross falling to 67.55 – last week’s low and a multiyear level. With very little on the calendar this week we await next week’s NZ Retail Sales to offer further direction. Certainly if markets remain risk averse towards the end of August we could see fresh lows develop.

Exchange Rates
The current interbank midrate is: NZDJPY 68.23
The interbank range this week has been: NZDJPY 67.55- 69.15

The New Zealand Dollar (NZD) resisted heavy downside momentum last week in small doses but ultimately succumbed to risk averse markets as it looks extremely heavy against the preferred safer Japanese Yen (JPY) investment. Trading around 67.85 Tuesday the kiwi has drifted lower from Monday’s open and unfortunately for JPY buyers looks poised to break lower past last week’s 67.50 to fresh multi year lows. The Calendar this week looks very thin, the pair should receive movement cues from offshore developments, especially the ongoing trade escalation of the US/China trade war

Current Level: 67.98
Resistance: 69.70
Support: 67.50
Last Weeks Range: 67.57-70.07

The New Zealand Dollar (NZD) was hit hard In Friday’s trading sessions as risk averse investors got back into the Japanese Yen (JPY). Price fell to 68.60 Monday continuing last week’s sell off as President Trump took the trade war up a notch by adding 10% tariffs to an additional 300B worth of Chinese Products starting 1 September. He has also accused the Chinese of currency manipulation on the Yuan to offset the cost of trade tariffs. China has said they are not ruling out placing their own tariffs on American agricultural products or pausing buying altogether. Slipping under the June 2016 level this week of 69.00 has increased chances of further downside developing – in fact unless we see positive headlines around trade talks the cross could go much lower. In news just released the NZ unemployment rate fell to 3.9% in the June quarter down from market expectations of 4.2% in the March quarter. With the fall in the unemployment rate this has reflected in 9,000 people being added to the NZ workforce bringing the total number of unemployed to 109,000 in NZ. Price jumped to 69.30 where it currently trades.

Exchange Rates
Current Level: 69.78
Resistance: 73.00
Support: 68.90
Last Weeks Range: 68.65-72.22

Overnight the New Zealand Dollar (NZD) has extended recent declines against the Japanese Yen (JPY) dropping to 70.30 with price sitting extremely close to long term support of 70.25. We don’t think this support level will hold with the next support at 69.10 this being the January 2016 low. Earlier in the week the the Bank of Japan committed to keeping rates extremely low for some time saying they would take additional measures if the circumstances warranted it. Overnight risk sentiment also took a hit with Trump announcing he would instigate fresh tariffs of 10% on a further $300B worth of Chinese products from September 1st. This shook markets as investors reached back into the JPY safe haven.

Exchange Rates
The current interbank midrate is: NZDJPY 70.34
The interbank range this week has been: NZDJPY 70.27- 71.85

Early Monday Japanese Retail Sales printed at 0.5% based on predictions of 0.2% pushing the Japanese Yen (JPY) to 71.89 but the cross has since reversed to 72.12 as markets await the Bank of Japan Monetary Policy Statement today. The Bank of Japan are committed to keeping rates extremely low for some time but they will be closely watching the Federal Reserve decision later in the week before making any wild adjustment of their own. A small group of analysts predict the BoJ will bring in new easing policy.

Exchange Rates
Current Level: 72.17
Resistance: 73.20
Support: 71.80
Last Weeks Range: 71.89-73.01

The recovery in the New Zealand Dollar (NZD) over the Japanese Yen (JPY) hit a snag this week coming off an 11 week high of 73.24 to retrace lower to 72.35. However the chart still suggests the recent bullish NZD is still in play as long as price doesn’t drift below key support of 72.00 in the coming days. Certainly a consolidation period over the past few hours around 72.35 suggests a setup which may continue topside. NZ Trade Balance printed better than predicted at 365M based on predictions of 100M based on higher log exports but the news failed to spark any NZD jump higher. Next week is a big week for the Yen with the Bank of Japan (BoJ) rate announcement and policy statement Tuesday. We expect the recent high to be retested.

Exchange Rates
The current interbank midrate is: NZDJPY 72.26
The interbank range this week has been: NZDJPY 72.24- 73.24

The recovery in the New Zealand dollar (NZD) vs the Japanese Yen (JPY) has continued unabated this week, with the pair trading to a 73.24 overnight. That’s the highest level since early May and at this stage there is nothing to suggest the rally is done. Trend support currently comes in at 72.68 and while the market holds above that level, the focus remains on the topside. Any break below 72.68 however would bring the rally into question and may well be the precursor to a much bigger correction lower. In the meantime, the next topside target is resistance around 74.20. It’s a light economic calendar from both countries this week so developments in the wider market, and swings in broader risk sentiment, may prove to be the bigger influence

Exchange Rates
Current Level: 72.76
Resistance: 74.20
Support: 72.68
Last Weeks range: 72.39-73.24

The New Zealand dollar (NZD) has outperformed the Japanese Yen (JPY) this week, retesting the June high around 72.93. While that level has so far capped the pair, the uptrend is still well entrenched and only a move below trend support around 72.50 would bring that into question. Currently trading around 72.80, that June high is only spitting distance away and we look for it to come under increasing pressure in the near term. Clients looking to convert NZD to JPY should remain patient as there are no sings the rally is done yet.

Exchange Rates
The current interbank midrate is: NZDJPY 72.75
The interbank range this week has been: NZDJPY 72.06 – 72.91

The New Zealand dollar has made some further gains against the Japanese Yen this week and is now threatening a key resistance area around 72.65. A break above that level may well open the way for a much broader rally toward 74.50. Solid Chinese activity data helped the NZD yesterday and with this morning’s release of NZ inflation now out of the way, coming in on expectations at 0.6%, there may be little to hold the pair back. For now, the risks remain skewed toward the topside.

Exchange Rates
Current Level: 72.54
Resistance:72.65
Support: 70.50
Last Weeks Range: 71.53-72.64

Although the New Zealand dollar has made some mild gains against the Japanese Yen in recent days, to currently trade just off the weeks high at 72.28, the pair is still well contained with the broader range we have seen over the past three weeks or so. Aside from a couple of short-lived spikes, the NZDJPY cross has been ranging between the broad parameters of 71.70 to 72.70 since the latter part of June. NZ inflation data next week may provide some impetus but with little set for release from Japan, if that data doesn’t spark a move we could be in for another week of this increasingly familiar range.

Exchange Rates
The current interbank midrate is: NZDJPY 72.30
The interbank range this week has been: NZDJPY 71.53 – 72.32

We have seen choppy trading for the NZDJPY pair over the past week, with little overall direction. Price action has been contained between the broad parameters of 71.70 and 72.50, and for the time being that looks set to continue. There is little from NZ this week to get excited about, while from Japan most of the release are second tier. Look for further ranging as the market waits for something to provide some much needed direction.
Exchange Rates
Current Level: 72.03
Resistance: 72.50
Support: 71.70
Last Weeks Range: 71.69-72.43

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