ZAR/JPY may rise to 9.3006 - 9.5468

Our pivot point stands at 8.4049.

Our preference

The upside prevails as long as 8.4049 is support.

Alternative scenario

The downside breakout of 8.4049 would call for 7.9950 and 7.7510.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 8.6079 and 8.4852).

Supports and resistances

10.0394 **

9.7931 *

9.5468 **

9.3006

8.7500 last

8.5660

8.4049 **

7.9950 *

7.7510 **

Number of asterisks represents the strength of support and resistance levels.