ZAR/JPY may rise to 8.8661 - 9.1457

7.8443 is our pivot point.

Our preference

Rebound towards 9.1457.

Alternative scenario

The downside breakout of 7.8443 would call for 7.3802 and 7.1039.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 8.2618 and 8.4758).

Supports and resistances

9.7048 **

9.4253 *

9.1457 **

8.8661

8.2150 last

8.0267

7.8443 **

7.3802 *

7.1039 **

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