ZAR/JPY may rise 908 - 1288 pips

Our pivot point stands at 8.0721.

Our preference

The upside prevails as long as 8.0721 is support.

Alternative scenario

Below 8.0721, expect 8.0085 and 7.9707.

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 8.1012 and 8.0945).

Supports and resistances

8.3306 **

8.2927 *

8.2548 **

8.2168

8.1260 last

8.0970

8.0721 **

8.0085 *

7.9707 **

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