ZAR/JPY Price Recap
ZAR/JPY is down 13 pips (1.84%) since yesterday (with its current price near 7.0765), marking the 4th day in a row it has gone down. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 9.93% from the day prior, and up 580.11% 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. In other words:
Here’s another visual: a price chart of ZAR/JPY.
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 24.8 pips away. Possible trend change alert: ZAR/JPY’s momentum/trend on a 30 day basis may be decelerating. Trend traders will want to observe that the strongest trend appears on the 90 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 20 them.