ZAR/JPY may rise 821 - 1177 pips

8.0852 is our pivot point.

Our preference

The upside prevails as long as 8.0852 is support.

Alternative scenario

Below 8.0852, expect 8.0256 and 7.9901.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 8.1041 and 8.1066). Finally, the ZAR/JPY is trading above its upper Bollinger band (standing at 8.1423).

Supports and resistances

8.3319 **

8.2963 *

8.2607 **

8.2251

8.1430 last

8.1086

8.0852 **

8.0256 *

7.9901 **

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