ZAR/JPY is neutral

Our pivot point is at 8.0945.

Our preference

Look for a drop towards 8.0945 before a bounce.

Alternative scenario

The downside breakout of 8.0945 would call for 7.7669 and 7.5718.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is above its 20 and 50 period moving average (respectively at 8.4374 and 8.3023).

Supports and resistances

9.4266 **

9.2295 *

9.0324 **

8.8352

8.4400 last

8.2233

8.0945 **

7.7669 *

7.5718 **

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