ZAR/JPY may rise 834 - 1206 pips

Our pivot point is at 8.8140.

Our preference

The upside prevails as long as 8.8140 is support.

Alternative scenario

Below 8.8140, expect 8.7516 and 8.7145.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading under its 20 period moving average (8.8703) but above its 50 period moving average (8.8649).

Supports and resistances

9.0639 **

9.0267 *

8.9896 **

8.9524

8.8690 last

8.8385

8.8140 **

8.7516 *

8.7145 **

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