ZAR/JPY Price Recap
6.4495 (USD) was the opening price of the day for ZAR/JPY, resulting in yesterday being a day in which price moved down 17 pips 2.63% from the day prior. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 67.81% from the day prior, and up 228.09% 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. Or, to put it another way…
Okay, okay, you know we have trouble resisting the memes around here 🙂 Getting back to business, here is 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 60.7 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. For additional context, note that price has gone down 7 out of the past 10 days.