(Last Updated March 16, 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 |
|---|---|---|---|---|---|---|---|
| Japan BoJ Gov Kuroda Speech | NA | Japanese Yen | JPY | 2021-03-16 | 04:05 GMT | ||
| Japan Reuters Tankan Index | Mar 2021 | Japanese Yen | JPY | 2021-03-16 | 23:00 GMT | ||
| Japan Imports YoY | Feb 2021 | Japanese Yen | JPY | 2021-03-16 | 23:50 GMT | 11.9% | |
| Japan Exports YoY | Feb 2021 | Japanese Yen | JPY | 2021-03-16 | 23:50 GMT | -0.8% | |
| Japan Balance of Trade | Feb 2021 | Japanese Yen | JPY | 2021-03-16 | 23:50 GMT | ¥420B |
A trend/countertrend situation exists on ZARJPY, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 and 30 day timeframes. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
The moving averages on ZARJPY indicate a trend that is clearly bullish. Moreover, today we saw the 20 and 50 moving average turn bullish.
Below is a chart showing ZARJPY’s price with its moving averages.
Regarding ZARJPY’s correlations over the past 7 days, it has been most correlated with AUDUSD. Over the past 14 days, however, USDZAR is the asset most correlated to ZARJPY. Alternatively, AUDNZD has been the asset least correlated with ZARJPY — but over the past two weeks, CHFJPY 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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Currently, ZARJPY’s rate is up 3.97 pips (0.56%) from the week prior. Moreover, note that the weekly chart shows that ZARJPY has seen 2 straight up weeks. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists 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. ZARJPY’s weekly price action over the past 52 weeks can be seen via the chart below.
Clearest trend on the monthly is apparent at the 60 month timeframe.
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.
The clearest trend exists on the 30 day timeframe, which shows price moving down over that time.
The closest is the 200 day average, which is 0 pips away.
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.