(Last Updated June 3, 2020)
Welcome to the news page for ZARJPY (ZARJPY). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
As for trends on ZARJPY, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to sell for those interested in playing the longer term trend.
The moving averages on ZARJPY summarize its price action in an interesting way. The 20 and 50 day averages are pointing upwards, suggesting a bullish trend, while the 100 and 200 day averages are pointing downward, suggesting a bearish trend on those timeframes. Ultimately, this suggests a bullish trend on shorter timeframes, compared to a bearish trend when observing more than 3 months of data.
The chart below illustrates.
As for correlation, Regarding ZARJPY’s correlations over the past 7 days, 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 recurring pattern. Alternatively, the asset least correlated with ZARJPY over the past week has been GBPCAD, but if we observe the prior two weeks, the asset least correlated with ZARJPY has been USDHKD. 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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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.