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.
ZARJPY
(Last Updated April 15, 2021)
Hello! This is the news page for 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 | outcome |
|---|---|---|---|---|---|---|---|
| Japan BoJ Gov Kuroda Speech | NA | Japanese Yen | JPY | 2021-04-15 | 01:00 GMT | ||
| Japan Reuters Tankan Index | Apr 2021 | Japanese Yen | JPY | 2021-04-15 | 23:00 GMT | ||
| Japan Exports YoY | Mar 2021 | Japanese Yen | JPY | 2021-04-18 | 23:50 GMT | ||
| Japan Balance of Trade | Mar 2021 | Japanese Yen | JPY | 2021-04-18 | 23:50 GMT |
The Trend
On ZARJPY, there is currently an uptrend on the 90, 30 and 14 day timeframes.
ZARJPY Moving Averages
The moving averages on ZARJPY indicate a trend that is clearly bullish.
Below is a chart showing ZARJPY’s price with its moving averages.
As for assets in the Forex asset class ZARJPY has been correlated to over the past week, it has demonstrated the strongest correlation with AUDCHF. Over the past 14 days, however, the asset showing the strongest correlation to ZARJPY is TRYJPY. Alternatively, NZDUSD has been the asset least correlated with ZARJPY — but over the past two weeks, USDHKD has been the asset least correlated with ZARJPY. 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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The View From the Weekly Timeframe
Currently, ZARJPY’s rate is up 5.56 pips (0.74%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. As for the trend on the weekly timeframe, we see the clearest trend on the 10 week timeframe. 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. The weekly chart below shows ZARJPY’s price action over the past year.
ZARJPY: The Monthly View
Monthly trend: strongest on the 60 month timeframe.
ZAR/JPY Fares the Worst Out of Forex; Moves Down For the 4th Day In A Row
The closest is the 20 day average, which is 24.8 pips away.
ZAR/JPY Heads Down For the 3rd Day In A Row, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart
The closest is the 20 day average, which is 13.1 pips away.
ZAR/JPY Makes Big Move Relative to Two Week Trend; Moves Down For the 2nd 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.
ZAR/JPY Underperforms All Forex, Makes Big Move Relative to Two Week Trend; Down 11 Pips
It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign.
ZAR/JPY Makes Big Move Relative to Two Week Trend, Up 2 Pips; Pin Bar Pattern Appearing on Chart
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
ZAR/JPY Makes Big Move Relative to Two Week Trend, Up 9 Pips; Crosses 20 and 200 Day Moving Averages
The closest is the 100 day average, which is 1.3 pips away.
ZAR/JPY 3 Day Up Streak Snapped; Pin Bar Pattern Appearing on Chart
Or to simplify this another way, note that out of the past 10 days zar/jpy’s price has gone up 5 them.
ZAR/JPY Down 3 Pips; Price Base in Formation Over Past 14 and 90 Days
The closest is the 200 day average, which is 7.4 pips away.
ZAR/JPY Up 1 Pips, in a Downtrend Over Past 30 Days; Price Base in Formation Over Past 90 Days
This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 20.98% from the day before — and down 23.65% from the same day the week before.