ZAR/JPY may rise 813 - 1149 pips

8.4097 is our pivot point.

Our preference

The upside prevails as long as 8.4097 is support.

Alternative scenario

Below 8.4097, expect 8.3533 and 8.3197.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 8.4506 and 8.4422).

Supports and resistances

8.6362 **

8.6025 *

8.5689 **

8.5353

8.4540 last

8.4318

8.4097 **

8.3533 *

8.3197 **

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