(Last Updated January 23, 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 Monetary Policy Meeting Minutes | NA | Japanese Yen | JPY | 2021-01-25 | 23:50 GMT |
As for trends on ZARJPY, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.
The moving averages on ZARJPY summarize its price action in an interesting way. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 20 are bullish, implying a upward trend, aside from a fall about 3 weeks prior.
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 USDZAR. USDZAR is the asset with which ZARJPY has been most correlated with over the past two weeks as well, so this may be a recurring pattern. On the flip side, GBPNZD has been the asset least correlated with ZARJPY — but over the past two weeks, EURNZD has been the asset least correlated with ZARJPY. The chart below illustrates ZARJPY against its least correlated assets.
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Currently, ZARJPY’s rate is up 10.55 pips (1.55%) from the week prior. Moreover, note that this is the 2nd week in a row ZARJPY has seen its price head up. Regarding the trend, note that the strongest trend exists on the 20 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.
Monthly trend: strongest on 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.