I think that few people trade with the combination of ZAR / JPY. It’s definitely a minor currency pair, but on the other hand, the margin required for trading is very low, so it is highly recommended for beginners to practice. However, it is difficult to accumulate large profits because the price range is not very wide. It may not be very suitable for scalping or day trading.
Difficulty
Recommended for beginners. Since extreme price movements are unlikely to occur, it is unlikely that all funds will disappear with one shot. There is a sense of stability, but since the price movement does not occur so much, a big trend does not occur easily. You should think of it as a practice. For those who want to trade in earnest, we recommend major currencies.
Recommended trading time
The Japanese yen moves in Asian time. South African rands move well during European time. Therefore, it moves widely from Asian time to European time, so it is recommended for 24 hours.
Recommended trading style
South African rands do not fluctuate very much. The Japanese yen is also stable, so it does not move much. Therefore, it may not be very suitable for scalping and day trading. It will be a currency pair for swing trading.
Economic indicators to watch out for
As an economic indicator, the economic indicators on the Japanese side are at a level where you do not have to worry too much. Even if it moves, is it about the Bank of Japan’s policy interest rate, GDP, and unemployment rate?
Few indicators in South Africa will move that much. Like the Japanese index, it is the policy interest rate, GDP, and unemployment rate.
When Japanese Yen is bought
It is also said to be a country where the national character cannot change. Since it is such a country, it often fluctuates for external reasons rather than the influence of economic indicators. The timing of yen buying is very advanced when the world situation becomes unstable such as infectious diseases, financial shocks, and wars.
Timing of South African Rand movement
South Africa is one of the world’s leading resource powers. Therefore, rising resource prices and increasing exports of our main products are the keys. Therefore, we must also consider external influences. In particular, the economic trends and monetary policy of the United States, which is the center of the world, are important points. If the United States shows progress in reducing monetary easing policy as the economy recovers, it is expected that it will put pressure on the South African rand.
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