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ZAR/JPY

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ZARJPY trade ideas

ZARJPY - 1D - Sharkpattern inside consolidationVery much the same setup as my USDZAR setup (link below). just pick what u like more or trade both with half a position(what is what i will be doing) if opening is good. after the breakdown last year, this year ZARJPY has now been consolidating. we now retest the lower parts of this consolidation again entering the PRZ of the shark pattern that has formed. we saw good rejection after that, forming a pinbar and now im looking to trade this upwards again.
Long
by SergeantPringles
Leaving The Highs...Time to say goodbye to the highs... It has already long happened to the EURZAR, USDZAR, & the CHFZAR pairs; so I'm expecting JPYZAR to follow suit (soon?)... Just that the JPY currency was so strong (& kept strengthening); which is most likely the reason why the JPYZAR is currently still lingering at this high-point, while the others have already left it ever since... P.S., I also expect the drop to be steeper (than my earlier sentiments)... BTW, this is for ZARJPY actually (just looking at it from the upside down perspective)... ZARJPY - LONG
Short
by ProFX_Strategist
Time To Leave It's Absolute Lows...?The USDZAR, EURZAR, & CHFZAR pairs all made it to a great new highs at the beginning of this year...; but eventually, they all soon started plunging very heavily-downwards ever since then; especially the USDZAR pair... (Most probably it was the ZAR currency that was starting to get progressively stronger & stronger most likely due to a stronger price of Gold...) As such, I keep on having the feeling that something big is about ready to start happening to this ZARJPY pair anytime soon... I have a kind of feeling that the Japanese Yen will/could be destined to get extremely weaker soon... (Yes, we all know how strong the JPY currency started getting ever-since the beginning of this year; e.g. the USDJPY pair was on a very steep decline ever-since then...) But soon, things might end-up in a reversal regarding the JPY's strength (who knows)... The ZAR could get stronger too...
by ProFX_Strategist
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