ZAR/JPY may rise to 8.9545 - 9.1538

Our pivot point is at 8.2484.

Our preference

As long as 8.2484 is support look for 9.1538.

Alternative scenario

Below 8.2484, expect 7.9154 and 7.7172.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 8.4417 and 8.2328).

Supports and resistances

9.5524 **

9.3531 *

9.1538 **

8.9545

8.5250 last

8.3792

8.2484 **

7.9154 *

7.7172 **

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