ZAR/JPY Up 13 Pips; in a Downtrend Over Past 14 Days

ZAR/JPY Price Recap

The choppiness in the recent daily price action of ZAR/JPY continues; to start today, it comes in at a price of 6.4677 US dollars, up 13 pips (2.11%) since yesterday. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 1.79% from the day before — and down 73.71% from the same day the week before. Out of the 40 instruments in the Forex asset class, ZAR/JPY ended up ranking 2nd for the day in terms of day-over-day price change. 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 40.9 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 6 out of the past 10 days.