ZAR/JPY may rise 711 - 1067 pips

Our pivot point is at 8.0921.

Our preference

As long as 8.0921 is support look for 8.2607.

Alternative scenario

Below 8.0921, expect 8.0325 and 7.9970.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (8.1574) but above its 50 period moving average (8.1421).

Supports and resistances

8.3319 **

8.2963 *

8.2607 **

8.2251

8.1540 last

8.1156

8.0921 **

8.0325 *

7.9970 **

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