Categories: Technical analysis

NZDJPY Wave Analysis – 17 January, 2020

  • NZDJPY reversed from resistance area
  • Likely to fall to 370.00

NZDJPY recently reversed down from the resistance area lying between the key, long-term resistance level 73.30 (which has been reversing the price from July) and the upper daily Bollinger Band.

The downward reversal from this resistance area stopped the previous short-term corrective wave 2.

NZDJPY is likely to fall further toward the next support level 72.35 (low of the previous short-term correction from earlier this month).

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.

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Tags: NZDJPY

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