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...
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...
If 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...
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...
:-D on the daily chart ZAR = South African Rand JPY = Japanese Yen the ANN strategy (double hull MA crossover) sayin long the ichimoku crossover and thin cloud changed to bullish MacD pointin up some fib stuff lines up with support/resist levels
It's another brainless USDHKD like trade except not insured by a peg... There is long term government initiatives within interest rates to appreciate the Rand. And we all know the yen and BOJ wanting to see it much weaker... We'll see how this plays out but I would like to catalog this as a moment of inflection on this pair with interest rates being the...
SELL Touch EMA 55 50% Fibline