ZAR/JPY may fall 785 - 1112 pips

8.3074 is our pivot point.

Our preference

The downside prevails as long as 8.3074 is resistance.

Alternative scenario

Above 8.3074, look for 8.3626 and 8.3954.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 8.3110 and 8.3465).

Supports and resistances

8.3954 **

8.3626 *

8.3074 **

8.2857

8.2510 last

8.1725

8.1398 **

8.1070 *

8.0743 **

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