ZAR/JPY may rise 784 - 1116 pips

Our pivot point is at 8.4323.

Our preference

The upside prevails as long as 8.4323 is support.

Alternative scenario

Below 8.4323, expect 8.3766 and 8.3435.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 8.4577 and 8.4540).

Supports and resistances

8.6569 **

8.6238 *

8.5906 **

8.5574

8.4790 last

8.4541

8.4323 **

8.3766 *

8.3435 **

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