ZAR/JPY may rise to 8.9941 - 9.2251

Our pivot point stands at 8.1267.

Our preference

The upside prevails as long as 8.1267 is support.

Alternative scenario

The downside breakout of 8.1267 would call for 7.7433 and 7.5151.

Comment

The RSI is above 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 8.3516 and 8.1809).

Supports and resistances

9.6872 **

9.4562 *

9.2251 **

8.9941

8.4460 last

8.2774

8.1267 **

7.7433 *

7.5151 **

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