Convert JPY to INR
Since both Japan and India are located in Asia, the Asian session is the best time to trade the JPY/INR currency pair. Most market moving events that can influence price action in this forex pair take place between 11:00 PM and 08:00 AM GMT.
The JPY/INR forex pair experiences considerable volatility on the release of key economic data from Japan and India, including GDP, inflation, unemployment rate, trade balance, industrial production, consumer consumption, retail sales, PMI readings from the manufacturing and services sectors, and PPI.
Both the Japanese yen as well as the Indian rupee experience significant fluctuation on the announcement of changes to the monetary policy and interest rates by the Bank of Japan (BOJ) and the Reserve Bank of India (RBI) respectively. For instance, if the RBI announces a rate hike or tightens its monetary policy, the INR strengthens, turning this pair bearish, and vice versa.