ZAR/JPY Up 7 Pips Over Past 4 Hours, Tops All Forex; But Still in a Downtrend Over Past 90 Days

ZAR/JPY 4 Hour Price Update

Updated March 25, 2020 01:36 PM GMT (09:36 AM EST)

ZAR/JPY is up 7 pips (1.14%) since the last 4 hour candle (opening the current 4 hour candle near 6.3471), marking the 3rd candle in a row an upward move has occurred. Relative to other instruments in the Forex asset class, ZAR/JPY ranked 2nd the last 4 hour candle in terms of percentage price change.

ZAR/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

ZAR/JPY is up 3 pips (0.46%) since yesterday (opening today near 6.345753919283), marking the 2nd day in a row it has gone up. For context, observe that yesterday was noteworthy in the sense that ZAR/JPY bested all 40 of the assets in the Forex class. Let’s take a look at price chart of ZAR/JPY.

ZAR/JPY Technical Analysis

Notably, the current price of ZAR/JPY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 15.5 pips away. Volatility for ZAR/JPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 up 8 out of the past 14 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on ZARJPY, with 5 buy signals on our radar and 2 sell signals. This imputes a buy/sell ratio of 2.5, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

ZARJPY 3-Hourly, price is above the 20 and 50 MAs being trailed by a bullish 9MA, so bullish sentiments in bearish Trend. The Trend here is bearish.We see strong highs, but what stands out is the bullish wick rejection that happened 9 Mar 2020.Bullish interests, followed on Heikin Ashi at best.