NZDJPY Wave Analysis – 22 June, 2020
June 22, 2020 @ 17:43 +03:00
• NZDJPY reversed from key support level 68.25
• Likely to rise to 70.00
NZDJPY recently reversed up sharply from the key support level 68.25 (which stopped the previous A-wave) – strengthened by the 38.2% Fibonacci retracement of the former sharp upward impulse wave (1) from May.
The upward reversal from the support level 68.25 stopped the earlier short-term impulse wave C. NZDJPY is likely to rise further toward the next round resistance level 70.00 (top of the B-wave from the middle of June).