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JPY Action Bias: EURJPY and CADJPY Emerge as Extremely Bullish Pairs to Watch 
- USD/ZAR is currently trading around 17.70 levels.
- It made intraday high at 17.83 and low at 17.56 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 17.83 mark.
- A daily close above 17.83 will take the parity higher towards key resistances around 18.04, 18.22 and 18.40 marks respectively.
- Alternatively, a daily close below 17.83 will drag the parity down towards key supports at 17.50, 17.02, 16.70, 16.40, 16.22, 16.00 and 15.70 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take long position on USD/ZAR only above 17.90, stop loss at 17.50 and target of 18.22/18.40.
