Technical analysis

NZDJPY Wave Analysis – 14 October, 2021

NZDJPY Wave Analysis – 14 October, 2021

• NZDJPY broke pivotal resistance level 78.7

• Likely to test resistance level 80.15

NZDJPY currency pair under the bullish pressure after the price broke the pivotal resistance level 78.7 (which has been reversing the price from the start of July).

The breakout of the resistance level 78.7 accelerated the active minor impulse wave 3 – which is a part of the higher-order upward impulse wave (3) from last month.

NZDJPY can be expected to rise further toward the next resistance level 80.15 (multi-month high from May and the target price for the completion of the active wave 3).

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