ZAR/JPY Up 7 Pips Over Past 4 Hours, Entered Today Up For the 3rd Day In A Row; in a Downtrend Over Past 14 Days
For additional context, note that price has gone up 15 out of the past 30 days.
(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:
metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
---|---|---|---|---|---|---|---|
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 |
On ZARJPY, there is currently an uptrend on the 90, 30 and 14 day timeframes.
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.
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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.
Monthly trend: strongest on the 120 month timeframe.
For additional context, note that price has gone up 15 out of the past 30 days.
Relative to other instruments in the forex asset class, zar/jpy ranked 19th the previous day in terms of percentage price change.
For additional context, note that price has gone up 15 out of the past 30 days.
For additional context, note that price has gone up 7 out of the past 14 days.
For additional context, note that price has gone up 7 out of the past 14 days.
Relative to other instruments in the forex asset class, zar/jpy ranked 7th the day prior in terms of percentage price change.
Volatility for zar/jpy has been contracting over the past two weeks relative to volatility over the past month.
Volatility for zar/jpy has been contracting over the past two weeks relative to volatility over the past month.
The closest is the 20 day average, which is 51.1 pips away.
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.