NZDJPY Wave Analysis 11 November, 2020

• NZDJPY broke key resistance level 72.00

• Likely to rise to 73.30

NZDJPY continues to rise after the earlier breakout of the key resistance level 72.00 (which stopped the previous sharp impulse wave (5) at the end of August).

The breakout of the resistance level 72.00 accelerated the active medium-term impulse wave (3) from the end of October.

NZDJPY is likely to rise further toward the next resistance level 73.30  – monthly high from January and the target price for the completion of the active impulse wave (3)).