ZAR/JPY may rise 764 - 1065 pips

Our pivot point is at 8.5133.

Our preference

Rebound towards 8.6635.

Alternative scenario

Below 8.5133, expect 8.4627 and 8.4326.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 8.5612 and 8.6040).

Supports and resistances

8.7239 **

8.6937 *

8.6635 **

8.6334

8.5570 last

8.5331

8.5133 **

8.4627 *

8.4326 **

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