"Trade what you see not what you think" Bearish Sentiment The trade 1.Support broken Resistance valid 2.Daily trend line valid (Major validation) 3.Opposing level breached by Bulls (Major validation) 4.Profit margin 1:4 (rounded) Shortby AshirDanville1
ZAR/JPY 1H Chart: Poised for minor correction southDownside risks have dominated ZAR/JPY both in the long and medium term. The most senior pattern is a falling wedge in force since late November, 2016. A more recent bearish pattern is a three-month channel down that guided the rate from one wedge boundary to the other. After testing the 7.80 mark, the South African Rand began a new wave up in the medium pattern—a move which is constrained by a minor channel up. As apparent on the chart, the rate is currently testing this short-term pattern and it seems that a breakout to the downside might be successful. This assumption is also supported by technical indicators. The rate is likely to remain near the weekly PP and the 200-hour SMA circa 7.95 during this week and subsequently edge even lower down to the weekly and monthly S1s near 7.85. It is expected that the bottom boundary of the medium-term channel would not be reached, as the Rand should push for the upper wedge boundary during the following weeks. by UnknownUnicorn8906902
ZAR/JPY 1H Chart: Approaches channel lineThe South African Rand has weakened against the Japanese Yen for the last six weeks—a movement which has been confined in a descending channel. During its last wave up, the pair has formed an ascending wedge. It is expected that this pattern is breached in this session and, given its bearish characteristics, a breakout is likely to occur to the downside. This scenario would be in line with the senior channel, as the rate is close to reaching its upper boundary. A significant support is provided by the 55-, 200– and 100-hour SMAs and the weekly PP in the 8.2400/2850 territory. This area could introduce some changes to the aforementioned fall. As a result, the lower channel boundary might not actually be reached, giving the Rand an opportunity to surge. Shortby UnknownUnicorn8906901
ZARJPY at risk of falling a lot.Generally speaking last week (Friday mostly) the South African Rand lost lots of ground against most currencies and I would consider the move as an impulse that should see follow through. ZARJPY is in a long term downtrend and could resume it very soon. More details below.Shortby RudiMarinUpdated 3
ZARJPY Long PlayExpecting price to hit 618 level. Price currently holding on 100 average.Longby TradeRunnerFX3
ZAR/JPY 1H Chart: Channel DownThe South African Rand has depreciated substantially against the Japanese Yen within the last six weeks, thus forming a channel down - valid for most of this downfall. As apparent on the chart, the rate failed to reach the bottom channel boundary in its last wave down and, subsequently, breached the upper line mid-session. This failure was an early indication that the momentum downwards was allaying, especially when a new up-trend took the upper hand. Other indicators are likewise turned bullish, adding some ground to the assumption that a surge may be due. However, more green candles are still necessary to confirm that the pair will not to return in the channel down. By and large, the pair is likely to follow the junior channel, and in case of a strong momentum north, the steepness of the up-trend will shift to the upside. Longby UnknownUnicorn890690Updated 3
Waiting for short setupI wait for priceaction for short on the top, At the moment buy is not an option for me.Shortby zsizsizsozsohalak881
ZAR/JPY 1H Chart: Channel DownThe South African Rand is trading in a channel down against the Yen in force since late June. The last four sessions were marked by a lack of distinctive direction, thus driving the rate sideways. Subsequently, the Rand plunged swiftly mid-today, thus reaching the lower channel boundary. The given move has pushed technical indicators in the strongly bearish and oversold area, dashing the rate through the 100– and 55-hour SMAs. Thus, it is expected that the Rand may recover and move closer to the upper channel boundary circa 8.50/52. This level is reinforced by the 61.8% Fibonacci retracement (June 21 low/June 26 high) and the 55-hour SMA that may provide enough resistance to reverse the pair south once again. Longby UnknownUnicorn8906905
ZARJPY short favoured #ZARJPYZARJPY is in bearish trend within a LT (bullish) falling wedge reversal pattern. I do not think it is ready to break higher and I expect another large leg lower to retest the bottom of the wedge. Currently near resistance, it offers a great Risk Reward Ratio for a short.Shortby RudiMarinUpdated 4
Tea Cup Trade Currently on the Handle...Long to 8.90 1st target.. Gap has been filled.. www.tradingview.com cup pattern.. On the handle.. Longby WMWINVESTUpdated 115
ZARJPY LongGood daily with bullish price pattern forming on intraday. Limit below D50. More info in video about Monthly, Weekly, Daily and intraday. youtu.be Longby simonhook44
Going shortLooks like we can go short here. Butterfly plus 2618 trade is coming along, we can expect channel brake as well..Price have been in uptrend for some time now.Shortby taksistaloUpdated 10