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The NZD/JPY currency combination is not widely traded, yet it can still fill a niche role in the experienced investor’s portfolio. The low trading volume of the pair makes it prone to sudden movements, and it’s typically considered to be volatile and hard to predict. The performance of the combination is heavily influenced by the correlation between two very different economies –New Zealand and Japan – and as a result, spreads are often wide.
Depending upon your individual trading style, this volatility is either a highly desired or highly disliked. It should only ever be traded where protective stop-loss orders are used. This pair's significant risks make it highly unsuitable for novices but it is an ideal instrument for traders with more experience and a libertine approach to risk.
Please note that changes in the New Zealand and Japan economies usually affect the NZD/JPY quotes. The RSI indicator and support/resistance levels are two excellent ways to determine entry and exit points in the short, medium and long term.
If you are interested in trading the NZD/JPY currency pair, contact FxPro today and open trading account in several minutes.
client accounts
FxPro has been providing online trading services to clients since 1999 and it currently serves 173 countries worldwide.
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