NZDJPY Wave Analysis – 21 December , 2018
December 21, 2018 @ 17:54 UTC
- NZDJPY broke the support zone
- Further losses are likely
NZDJPY recently broke the support zone lying between the key support level 75.50 (former resistance from September) and the 50% Fibonacci correction of the previous sharp upward impulse form October.
The breakout of this support level should continue the active short-term impulse wave 3 of medium-term downward impulse wave (C) from the start of this month.
NZDJPY is expected to fall further and re-test the next support level 74.00 (forecast price calculated for the completion of the active impulse wave 3).