New Zealand Dollar / Japanese Yen - NZD/JPY

Pivot points are a technical indicator that traders use to predict upcoming areas of technical significance, such as support and resistance. They're calculated by averaging the high, low and closing prices of a previous period. That could be a day, a week or a month.

If a market is trading above its previous pivot point (known as P), it is seen as a bullish signal. If it is below, it is bearish.

NZD/JPY is the forex pair representing the value of one New Zealand dollar in Japanese yen. Like most other yen currency pairs, the pip value of NZD/JPY is 0.01. Because the two economies are relatively close to one another, it is most actively traded during the Tokyo session from 12am to 8am GMT.

The New Zealand dollar is most affected by major commodity exports such as dairy products, agricultural products and forestry. Some of the most significant price drivers of the yen include economic data such as retail sales, inflation, trade balances and motor vehicle production, the latter being a major export of Japan.