ZAR/JPY may fall to 7.2490 - 7.5080

8.4753 is our pivot point.

Our preference

The downside prevails as long as 8.4753 is resistance.

Alternative scenario

Above 8.4753, look for 8.9159 and 9.1782.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 8.3901 and 8.5065).

Supports and resistances

9.1782 **

8.9159 *

8.4753 **

8.3021

8.1020 last

7.5080

7.2490 **

6.9900 *

6.7311 **

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