The ZAR/JPY currency pair represents a cross rate against the U.S. dollar which bears upon the further rate of ZAR/JPY. Thus, by merging the USD/JPY and USD/ZAR price charts, it is possible to get a rough ZAR/JPY price chart. However, this instrument is not actively traded on the Forex market.
The U.S. economic indicators such as the interest rate, GDP growth, unemployment rate, new vacancies, and others can serve well when analyzing ZAR/JPY movements as the greenback can influence the currency pair significantly. However, the currencies can respond differently to the changes in the U.S. economy.
South African rand is one of the most tradable currencies in the world. Thanks to the huge mineral deposits, South Africa is the richest country in its region. It is also famous for the stock exchange which is listed among the world's top ten exchanges. South African economy is based mainly on the extraction and export of minerals.
South Africa produces a great number of precious stones and metals, including gold and diamonds. In addition, it is the largest car manufacturer in Africa. South Africa is quite self-sufficient in providing itself with the necessary raw materials for production. The factors that affect the South African rand the most are the prices for the precious stones and metals, and the level of industrial production.
The ZAR/JPY currency pair is very exposed to a variety of world's major political and economic developments. For this reason, the price chart for this currency pair is poorly predictable and often goes in the opposite direction regardless of any analysis.
Beginners are not recommended to start their trading with this currency pair. To successfully project the further course rate of this trading instrument, it is necessary to know many nuances of the price chart behaviour as they can affect the pair's movement.
When compared to EUR/USD, USD/CHF, GBP/USD, and USD/JPY, the ZAR/JPY trading instrument is relatively illiquid. Hence, trying to predict the ZAR/JPY further trend, it is necessary to consider the USD/JPY and USD/JPY price charts.
As a rule, the brokers set a higher spread for cross rates rather than for major currency pairs. That is why before trading crosses, learn carefully the terms and conditions offered by the broker.
Ahli kami akan menghubungi anda kembali dalam lima menit
Kami akan mengarahkan anda menuju website dan menjawab seluruh pertanyaan anda!
Tidak bisa bicara sekarang? Tanyakan pertanyaan anda lewat chat.