NZDJPY Wave Analysis – 12 October, 2022

• NZDJPY reversed from support zone

• Likely to rise to resistance level 82.30

NZDJPY recently reversed up from the support zone lying between the key support level 80.60 (which has been reversing the pair from May) and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the earlier short-term corrective wave (ii).

NZDJPY can be expected to rise further toward the next resistance level 82.30 (previous daily high).