ZAR/JPY Price Recap
ZAR/JPY is up 0 pips (0.03%) since yesterday (with its current price near 7.41), marking the 3rd day in a row an increase has occurred. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 2.13% from the day prior, but down 33.07% from the same day the week before. Out of the 40 instruments in the Forex asset class, ZAR/JPY ended up ranking 22nd for the day in terms of day-over-day price change. Below is a price chart of ZAR/JPY.
ZAR/JPY Technical Analysis
First things first: ZAR/JPY crossed above its 200 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 200 day average, which is 0.3 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days ZAR/JPY’s price has gone up 7 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.