JPYZAR trade ideas
ZARJPY Bumb and RetestThese exotic FX pairs are more tricky to trade, but there is a potential nice setup here in the making. It has made a huge drop past 2 months for FA reasons, but there is a chance we might see a bigger consolidation or correction up this time. There was strong move up 2 weeks ago but came back down all the way again, but in a much slower pace though, which could be a sign. Now ideally we see it test that curved shape on the right a bit more coming days, but it is very important to see the green zone hold. If that breaks, anything is possible.
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ZARJPY | LONG | TRADING IDEAIt is possible that the downward trend is ending. At least a strong correction is expected. JPY/USD COT Index 94% - Strong Sell. ZAR/USD COT Index 17% - Strong buy. Can expect that ZAR/JPY will go srtictly north.
ZARJPY Sell signal very long termPattern: Channel Down since 2011.
Signal: Bearish as the new Lower Low leg is still halfway through.
Target: 4.400.
ZARJPY Bullish SetupZARJPY 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.
ZAR JPY SELL (SOUTH AFRICAN RAND - JAPANESE YEN)Hi there. Price is forming a possible continuation pattern to the downside.
Wait for the price to complete the pattern and watch strong price action for sell.
ZAR/JPY my forgotten Exotic Currency PairZAR/JPY is an exotic currency pair that I do not trade very often.
But I see an impulse wave carrying price up to resistance.
Price touched the .618 very cleanly and moved up.
UPDATE - ZARJPY: Confirmation of trendTarget: $6.5
Position: Risk Free
Catalyst: Inflation data from Japan exceeds expectations.
ZARJPY - Very BearishMoving average crossovers are always interesting, so let’s start there: ZAR/JPY crossed below its 100 and 200 day moving averages 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 100 day average, which is 3.7 pips away. Related to the moving average crossover is that ZAR/JPY may have broken its trend on the 14 day basis, as the trend’s momentum appears to be slowing down. Volatility for ZAR/JPY has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note.
ZARJPY has Bullish Wolfe Wave and Gartley patternBoth of that pattern breakout line are same. Price was breakout those lines and right now i think price is impulsing.
Those resistance and support levels are important. İf support works than price may go up.
ZARJPY SHORTJust started, seeing if this is done right. I’m thinking it’ll retrace back to the golden zone which will then be ready for a buy.
