ZAR/JPY Fares the Worst Out of Forex; Heads Down For the 4th Day In A Row
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down.
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down.
Relative to other instruments in the forex asset class, try/jpy ranked 39th yesterday in terms of percentage price change.
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
This imputes a buy/sell ratio of 0.5, which is bearish.
Alternatively, regarding pairs with the lowest correlation to gbp/chf?
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down.
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 22.25% from the day prior, and up 73.23% from the same day the week before.
The next support for the price could be around 106.78, since it is a pivot for the pair since june 25th of the last year….
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.