ZARJPY short favoured #ZARJPY

Short

SOUTH AFRICAN RAND / JAPANESE YEN (FX_IDC:ZARJPY)

Updated

FX_IDC:ZARJPY SOUTH AFRICAN RAND / JAPANESE YEN

ZARJPY

zarjpy

ZARJPY 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.

Comment:

Daily view as of now

snapshot

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