ZAR/JPY may rise to 9.0318 - 9.2422

Our pivot point stands at 8.2472.

Our preference

The upside prevails as long as 8.2472 is support.

Alternative scenario

The downside breakout of 8.2472 would call for 7.8974 and 7.6891.

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 8.4284 and 8.2303).

Supports and resistances

9.6629 **

9.4526 *

9.2422 **

9.0318

8.5760 last

8.3846

8.2472 **

7.8974 *

7.6891 **

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