ZAR/JPY Heads Down For the 2nd Day In A Row; in a Downtrend Over Past 14 Days

ZAR/JPY Price Recap

ZAR/JPY is down 13 pips (1.96%) since yesterday (with its current price near 6.3232), marking the 2nd day in a row a decline has happened. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 46.43% from the day prior, but up 64.9% from the same day the week before. Relative to other instruments in the Forex asset class, ZAR/JPY ranked 33rd yesterday in terms of percentage price change. 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 68.3 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days ZAR/JPY’s price has gone down 7 them.