ZAR/JPY may fall 837 - 1190 pips

Our pivot point stands at 8.1688.

Our preference

The downside prevails as long as 8.1688 is resistance.

Alternative scenario

Above 8.1688, look for 8.2283 and 8.2637.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 8.1158 and 8.1210).

Supports and resistances

8.2637 **

8.2283 *

8.1688 **

8.1454

8.1130 last

8.0293

7.9940 **

7.9586 *

7.9233 **

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