ZAR/JPY may rise 811 - 1131 pips

8.2728 is our pivot point.

Our preference

The upside prevails as long as 8.2728 is support.

Alternative scenario

Below 8.2728, expect 8.2191 and 8.1871.

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 8.3060 and 8.2897).

Supports and resistances

8.4932 **

8.4612 *

8.4291 **

8.3971

8.3160 last

8.2939

8.2728 **

8.2191 *

8.1871 **

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