ZAR/JPY may rise 893 - 1219 pips

Our pivot point is at 8.1261.

Our preference

Rebound towards 8.3109.

Alternative scenario

The downside breakout of 8.1261 would call for 8.0716 and 8.0391.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 8.2024 and 8.2241).

Supports and resistances

8.3762 **

8.3436 *

8.3109 **

8.2783

8.1890 last

8.1476

8.1261 **

8.0716 *

8.0391 **

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