NZDJPY reversed up from the key support level 76.20

• NZDJPY reversed up from the key support level 76.20
• Further gains are likel

NZDJPY recently reversed up from the key support level 76.20 (low of the previous Japanese candlesticks reversal pattern Morning Star from the start of this month).

The upward reversal from this support level continues the (b)-wave of the active medium-term ABC correction 2 – which stared earlier from the strong resistance level 77.6.

NZDJPY is expected to rise further and re-test the aforementioned resistance level 77.6 (target price from the completion of the active corrective wave  (b)).