ZAR/JPY may rise 929 - 1303 pips

Our pivot point stands at 8.8717.

Our preference

The upside prevails as long as 8.8717 is support.

Alternative scenario

The downside breakout of 8.8717 would call for 8.8089 and 8.7715.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 8.9134 and 8.9143).

Supports and resistances

9.1272 **

9.0898 *

9.0523 **

9.0149

8.9220 last

8.8963

8.8717 **

8.8089 *

8.7715 **

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