ZAR/JPY may rise 877 - 1255 pips

Our pivot point stands at 8.0512.

Our preference

The upside prevails as long as 8.0512 is support.

Alternative scenario

Below 8.0512, expect 7.9878 and 7.9501.

Comment

The RSI is above its neutrality area at 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 8.0829 and 8.0737).

Supports and resistances

8.3111 **

8.2733 *

8.2355 **

8.1977

8.1100 last

8.0761

8.0512 **

7.9878 *

7.9501 **

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