Technical analysis

NZDJPY Wave Analysis 19 February 2024

– NZDJPY reversed from support level 91.00

– Likely to rise to resistance level 93.00

NZDJPY currency pair recently reversed up from the support level 91.00 (former resistance which has been reversing the price from November).

The upward reversal from the support level 91.00 started the active short-term impulse wave iii of the higher impulse waves 3 and (3).

Given the clear daily uptrend, NZDJPY currency pair can be expected to rise further to the next resistance level 93.00 target price from the completion of the active impulse wave iii.

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