NZDJPY Wave Analysis – 22 June, 2020

• NZDJPY reversed from key support level 68.25

• Likely to rise to 70.00

NZDJPY recently reversed up sharply from the key support level 68.25 (which stopped the previous A-wave) – strengthened by the 38.2% Fibonacci retracement of the former sharp upward impulse wave (1) from May.

The upward reversal from the support level 68.25 stopped the earlier short-term impulse wave C. NZDJPY is likely to rise further toward the next round resistance level 70.00 (top of the B-wave from the middle of June).