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South African Rand / Japanese Yen

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ZARJPY trade ideas

Consolidation - Then BreakoutIf the BOJ does not do anything to weaken the YEN; or does not do anything drastic enough to weaken the YEN permanently (& to make sure that the YEN doesn't ever get stronger again after that!)... If the JPY is set to progress stronger (as a safe-haven currency perhaps), then this ZARJPY pair will have a very high chance of breaking out to even further downsides...! (Just a matter of when; if this should happen...?) But on the other hand, the ZAR currency is also said to be highly influenced by Gold prices... So if Gold prices is set to go higher..., then the ZAR currency can get stronger too... (This Gold strength factor will also affect the price patterns of USDZAR, EURZAR, & CHFZAR as well; which Gold price got stronger from beginning of this year, & is currently still very strong...)
by ProFX_Strategist
Potential Trend Reversal (could be going to happen)...It might be time for the Japanese Yen to reverse/surrender "most" of it's gains (from early of this year)... In addition; The ZAR was already started (to get stronger & stronger - most probably due to a very strong Gold price beginning this year); & has been pushing the USD back down ever-since...; the (USDZAR) pair has ever-since been on a severely downwards trend (already happening since the earlier months of this year); immediately right after a very strong bullish rallying upwards of USDZAR (right at the beginning of this year)... The same may happen in the works for the ZARJPY... Just my thoughts more recently...
Long
by ProFX_Strategist