NZDJPY Wave Analysis – 17 January, 2020

• NZDJPY reversed from resistance area
• Likely to fall to 370.00

NZDJPY recently reversed down from the resistance area lying between the key, long-term resistance level 73.30 (which has been reversing the price from July) and the upper daily Bollinger Band.

The downward reversal from this resistance area stopped the previous short-term corrective wave 2.

NZDJPY is likely to fall further toward the next support level 72.35 (low of the previous short-term correction from earlier this month).