ZARJPY

(Last Updated February 24, 2021)

Welcome to the news page for ZARJPY (ZARJPY). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for ZARJPY

metric_name	reference_period	asset_name	asset_id	date	time	forecast
South Africa 2021 National Budget	NA	South African Rand	ZAR	2021-02-24	12:00 GMT
Japan Retail Sales YoY	Jan 2021	Japanese Yen	JPY	2021-02-25	23:50 GMT	-2.6%
Japan Industrial Production MoM Prel	Jan 2021	Japanese Yen	JPY	2021-02-25	23:50 GMT	4%
Japan Housing Starts YoY	Jan 2021	Japanese Yen	JPY	2021-02-26	05:00 GMT	-2.5%
South Africa Balance of Trade	Jan 2021	South African Rand	ZAR	2021-02-26	12:00 GMT

The Trend

On ZARJPY, there is currently an uptrend on the 90, 30 and 14 day timeframes.

ZARJPY Moving Averages

ZARJPY’s moving averages suggest the trend on a number of time horizons is bullish.

Below is a chart showing ZARJPY’s price with its moving averages.

In terms of correlations over the past week for ZARJPY, it has demonstrated the strongest correlation with USDMXN. If we zoom out to a two week basis, though, USDZAR is the asset most correlated to ZARJPY. Alternatively, GBPJPY has been the asset least correlated with ZARJPY — but over the past two weeks, the asset least correlated with ZARJPY has been NZDUSD. See the chart below to observe the recent price action in ZARJPY versus those of assets it hasn’t been well correlated with.

The View From the Weekly Timeframe

At the moment, ZARJPY’s rate is up 4.42 pips (0.61%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as ZARJPY has now gone up 4 of the past 5 weeks. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on ZARJPY. Given that we see an uptrend on the 20 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. ZARJPY’s weekly price action over the past 52 weeks can be seen via the chart below.