ZAR/JPY may rise 728 - 1012 pips

8.3626 is our pivot point.

Our preference

The upside prevails as long as 8.3626 is support.

Alternative scenario

Below 8.3626, expect 8.3151 and 8.2867.

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 above its 20 and 50 period moving average (respectively at 8.3818 and 8.3673).

Supports and resistances

8.5680 **

8.5396 *

8.5112 **

8.4828

8.4100 last

8.3813

8.3626 **

8.3151 *

8.2867 **

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