Market Snapshots

NZDJPY Wave Analysis 25 September, 2020

NZDJPY Wave Analysis 25 September, 2020

• NZDJPY reversed from support zone

• Likely to rise to 70.00

NZDJPY recently reversed up from the support zone located between the support level 68.70 (low of wave A from August), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from July.

The upward reversal from this support zone stopped the previous extended ABC correction (2) from July.

NZDJPY is expected to rise further toward the next round resistance level 70.00 (former support from the start of September).

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