ZAR/JPY Price Recap
ZAR/JPY is down 7 pips (0.94%) since yesterday (with its current price near 7.619), marking the 2nd day in a row it has gone down. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 30.25% from the day prior, but up 19.19% from the same day the week before. On a relative basis, ZAR/JPY was the worst performer out of all 40 of the assets in the Forex asset class. Let’s take a look at price chart of ZAR/JPY.
ZAR/JPY Technical Analysis
Notably, ZAR/JPY crossed below its 20 day moving average yesterday. 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 3.8 pips away. Volatility for ZAR/JPY has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 14 days.