Trade Idea and Analysis for ZAR/JPY Forex Cross Pair
09 Aug 2023
Today, we have a new Forex trade idea and analysis. We focus on one Forex cross pair recently located for the Set and Forget online trading academy members: ZAR/JPY. The South African Rand is getting stronger against the Japanese Yen currency.
The ZAR/JPY cross-pair is currently trading at 7.57, creating a strong demand imbalance in the weekly timeframe. We do not need to wait for any dips this time because this Forex cross pair is already trading without this weekly demand level. The South African Zar is expected to rally to higher grounds in the following weeks. The Japanese Yen is weakening against the South African Rand and the same is happening with most of the Japanese Yen JPY Forex criss-paurs, and that’s great for this Forex trade.
ZARJPY Forex Forecast
The ZARJPY Forex chart attached below was posted in Set and Forget’s online trading academy on the 9th of August, 2023, together with many other Forex trade ideas and updates.
Trading the ZAR/JPY Forex cross-pair can be lucrative if done correctly. While there are no guarantees when it comes to trading, understanding key supply and demand imbalance levels, potential trade entry and exit points, and risk management strategies can all help increase your chances of success in this volatile market. With patience, discipline, and an open mind, you may be riding the wave to increased profits!
You can use these Forex imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves. This game has got a name, and it’s called the waiting game. We must patiently wait for the correct scenarios and setups to happen and wait for the price to pull back or dip into the price levels we want to trade; in our case, these price levels are made of supply and demand imbalances.
Join Set and Forget’s online trading academy or subscribe to your Forex Trade Ideas to start making money using the forces of supply and demand.
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