ZARJPY

(Last Updated September 21, 2020)

Hello! This is the news page for ZARJPY. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

On ZARJPY, there is currently a clear uptrend on the 30 day timeframe.

ZARJPY Moving Averages

Nuances in the trend on ZARJPY can be understood by observing the behavior of its moving averages. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 200 are bullish, suggesting the trend is generally upward, aside from a fall about 6 months prior.

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 USDZAR. USDZAR is the asset with which ZARJPY has been most correlated with over the past two weeks as well, so this may be a recurring pattern. On the flip side, the asset least correlated with ZARJPY over the past week has been CADCHF, but over the past two weeks, GBPUSD has been the asset least correlated with ZARJPY. The chart below illustrates ZARJPY against its least correlated assets.

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The View From the Weekly Timeframe

At the time of this writing, ZARJPY’s rate is up 0.0617 (0.98%) from the week prior. ZARJPY has seen its price go up 4 out of the past 5 weeks, thus creating some compelling opportunities for bulls. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. ZARJPY’s weekly price action over the past 52 weeks can be seen via the chart below.