ZAR/JPY may rise 892 - 1278 pips

Our pivot point stands at 8.2192.

Our preference

As long as 8.2192 is support look for 8.4058.

Alternative scenario

The downside breakout of 8.2192 would call for 8.1544 and 8.1159.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 8.2738 and 8.2486).

Supports and resistances

8.4831 **

8.4444 *

8.4058 **

8.3672

8.2780 last

8.2446

8.2192 **

8.1544 *

8.1159 **

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