NZDJPY Wave Analysis – 2 July, 2020

• NZDJPY broke resistance zone

• Likely to rise to 71.5

NZDJPY today broke the resistance zone lying between the key resistance level 69.8 (top of the B-wave of the previous ABC correction (2)) and the 50% Fibonacci retracement of wave (2).

The breakout of the resistance zone continues the active medium-term upward impulse sequence (3) from the middle of June. NZDJPY is likely to rise further toward the next resistance level 71.5 (top of the previous waves (1) and B).