Categories: Technical analysis

NZDJPY Wave Analysis – 02 August, 2019

  • NZDJPY broke key support level 70.35
  • Further losses are likely

NZDJPY recently broke below the pivotal support level 70.35 – which reversed the price sharply in May and June.

The breakout of the support level 70.35 accelerated the active impulse wave 3 – which belongs to the extended, medium-term impulse wave (3) from March.

NZDJPY is expected to fall further and retest the next support level 69.00 (which coincides with the support trendline of the daily down channel from December).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: NZDJPY

Recent Posts

Crypto market deepens correction

The crypto market is facing a correction as it loses around 4.6% in value. Bitcoin…

54 mins ago

Oil: rebounded but unlikely started to recover

Oil prices rose by over 7% in the past week, reaching above $70 per barrel.…

20 hours ago

EURGBP Wave Analysis 25 November 2024

- EURGBP reversed from support zone - Likely to rise to resistance level 0.8375 EURGBP…

20 hours ago

EURCHF Wave Analysis 25 November 2024

- EURCHF reversed from support zone - Likely to rise to resistance level 0.9360 EURCHF…

20 hours ago

Important economic events of new week

The RBNZ's key rate decision, the release of the FOMC meeting minutes, and inflation estimates…

1 day ago

Crypto Recharged Over the Weekend

The crypto seems recharged over weekend, and positive traction resumed on Monday. Bitcoin may reach…

1 day ago

This website uses cookies