JPYZAR trade ideas
ZAR/JPY 1H Chart: Pair shows signals of reversalThe South African Rand has been appreciating against the Japanese Yen since the beginning of September after the pair reversed from the lower boundary of a medium-term channel at 7.12.
As apparent on the chart, the pair is trading near the upper channel line. From the theoretical point of view, a reversal could occur in the nearest future. Technical indicators for the 1D and 1W time-frames also support bearish scenario. Possible downside targets for the following sessions is the 55-period (4H) SMA at 7.39 and the weekly S1 at 7.29.
It is the unlikely case that some bullish pressure still prevails in the market, the currency pair should not exceed the resistance cluster formed by the Fibonacci 23.60% retracement and the weekly R1 near 7.70.
ZARJPY LongPrice has been forming higher lows and now we got price bouncing off of the ascending trend line.with a bullish engulfing candle,my long entry is triggered SL & TP on chart.
Strategic ZAR short=> EM is back under pressure on the on the headlines and South Africa are one more time shooting themselves by proceeding the bill passing expropriation of land.
=> When a country does this, your currency is going one way. Land reform is going to keep ZAR vulnerable in an already challenging EM climate.
=> JPY will receive the safe haven flows via risk sentiment
=> GL
ZARJPY Long for a short time?Using Ichimoku, No much volatility or volume on this pair, but reacts to major economic changes. Seems to follows stochastics on short time terms and the trend on the long run. I would appreciate if someone would publish a more scientific analysis. Thank you for taking to view this idea and I look forward to view yours about ZARJPY as soon as possible. OANDA:ZARJP Y
ZAR/JPY 1H Chart: Rand towards senior channelThe South African Rand began appreciating against the Japanese Yen mid-July when it reversed from the senior channel circa 7.88. The rate peaked at 8.55 a few weeks prior to heading back lower. The Rand is currently testing the 55-period (4H) and 100-hour SMAs near 8.40.
If this support cluster remains intact during the following hours, it is expected that the pair continues appreciating towards the upper boundary of the senior channel circa 8.65.The nearest resistance is the 50.00% Fibonacci retracement at 8.55. A bearish breakout from 8.40 is likely to send the rate down to the 200-period SMA and the monthly PP at 8.23.
This area is expected to cause a reversal to the upside and a subsequent surge. The upward-sloping tendency of technical indicators suggest that the bullish scenario is the more likely option.
Channel Down on 1D. Short.ZARJPY is approaching the Lower High limit on the 1D Channel Down (RSI = 47.58, MACD = -0.108). This is a solid medium term short opportunity for the November 13, 2017 low = 7.774 and 7.654 in extension.
Close of Business Day.A Classic Breakout strategy based trading Move is anticipated on ZARJPY.
***this forecast is for highlighting price action and can be considered as a trade call***
wait to long ZARJPYweekly chart can see momup>0
daily chart now up>down wait up>life an momup>0 to long ZARJPY
in case weekly momup<0 and daily up<life to short ZARJPY again
Bullish Butterfly on ZARJPY For the ZARJPY lovers here is a good Bullish Butterfly on the 4hr....though not many people might want to speculate on it...the spread is a bit high. But for those taking this one look for bullish evidence and use proper money management. Cheers
ZAR/JPY 1H Chart: Likely to target 8.80The South African Rand has been trading in a channel down against the Japanese Yen during the past three months. Two junior channels were also formed along the way.
The most recent test of the senior channel occurred earlier this week when the Rand reversed from the 9.10 mark. The rate has since breached the 55– and 100-hour SMAs and is currently approaching the combined support of the 200-hour SMA and the bottom boundary of the most junior pattern near 8.90.
It seems that there is still some downside potential in the market that should guide the Rand towards the monthly S1 at 8.90. In case bears continue dominating the market, the Rand could even push lower down to the intermediate pattern located in the 8.80/85 territory.
Conversely, a test of the 200-hour SMA might activate bulls for a few sessions. The aforementioned 9.10 area, however, is unlikely to be surpassed.
ZAR/JPY 1H Chart: Rand flashes bullish signalsThe ZAR/JPY exchange rate has been trading in the 8.79/9.27 range since mid-December. Its southern barrier was tested two weeks ago when the Rand reversed from its three-month low of 8.79.
The given currency pair has since been trading in an ascending channel. It seems that the rate might be reluctant to reach its upper line, thus pointing to a possible breakout south in the nearest time. Weekly technical indicators, however, favour a continuous surge towards the northern boundary of the range.
Considering these two factors, it is possible that the Rand forms a minor correction south towards the 200-hour SMA, the weekly PP and the 38.20% Fibo retracement at 8.95 today, followed by a price increase up to the 9.30.
ZAR/JPY 1H Chart: Pair trades along senior lineAfter hitting the 2017 low of 7.77 mid-November, the South African Rand started to appreciate against the Yen in a channel up. During the past weeks, however, the pair has been trading in the 8.85/9.25 area, thus failing to form a distinctive wave up.
The Rand has spent the past few trading sessions along the senior channel line. In addition, it is trading near the upper line of the aforementioned range which is likewise the pair’s highest level since mid-2015. These two factors suggest that the pair might soon breach the senior channel and initiate a course towards the 8.90 mark.
The nearest support is provided by the weekly PP and the 200-hour SMA near 9.07. This area could hinder the Rand for some time, thus resulting in a slight period of consolidation.
ZARJPY also has great potential for making moneyZARJPY also has great potential for making money. Wait for flag confirmation, then sell. the trend is going down.
ZAR/JPY 4H Chart: Climbs towards 8.40ZAR/JPY 4H Chart: Climbs towards 8.40
The South African Rand is actively appreciating against the Japanese Yen in a one-month long ascending channel. The pattern represents a part of a larger falling wedge formation.
Accordingly, the surge is expected to continue. This assumption is supported by the rising 55-, 100- and 200-period SMAs that are moving along the lower trend-line of the channel. In addition to that, 51% of traders are bullish on the given currency pair.
On the other hand, there are two alleged resistance levels located at the 8.395 and 8.456 marks that might not only halt the surge but also lead to premature turnaround. However, this scenario is unlikely to materialize without some relevant fundamental event that would to spike a demand for safe haven asset.
