NZDJPY Wave Analysis – 8 May, 2020

• NZDJPY reversed from support level 63.60
• Likely to rise to 66.00

NZDJPY recently reversed up from the support level 63.60 (which has been repeatedly reversing the price from the start of April).

The support area near the support level 63.60 was strengthened by the lower daily Bollinger Band.

NZDJPY is expected to rise further in the active impulse wave (1) toward the next resistance level 66.00 (upper boundary of the sideways price range from the start of April).