ZARJPY

(Last Updated July 8, 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

A trend/countertrend situation exists on ZARJPY, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 and 14 day timeframes. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.

ZARJPY Moving Averages

Nuances in the trend on ZARJPY can be understood by observing the behavior of its moving averages. The 20 and 50 day averages suggest a bullish trend, as they are pointing upwards, in contrast to the downward-facing 100 and 200 day averages that imply a bearish trend. This implies that the long-term trend — meaning going back over 3 months — is bearish, while the trend over the past month and a half is bullish. Moreover, it should also be noted that the 20 SMA just turned bullish today.

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. ZARJPY has been most correlated with USDZAR over the past 14 days also, so this may be a structural correlation in the market. On the flip side, the asset least correlated with ZARJPY over the past week has been AUDJPY, but over the past two weeks, the asset least correlated with ZARJPY has been EURUSD. See the chart below to observe the recent price action in ZARJPY versus those of assets it hasn’t been well correlated with.

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