ZAR/JPY Price Recap
The back and forth price flow continues for ZAR/JPY, which starts today off at 6.334 US dollars, down 26 pips 3.91% from the previous day. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 10.67% from the day prior, but up 57.61% from the same day the week before. Those trading within the Forex asset class should know that ZAR/JPY was the worst performer in the class. The price chart of ZAR/JPY below illustrates.
ZAR/JPY Technical Analysis
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 closest is the 20 day average, which is 58.5 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. Or to simplify this another way, note that out of the past 30 days ZAR/JPY’s price has gone down 19 them.