NZDJPY Wave Analysis 23 July 2024

– NZDJPY falling inside ABC correction (2)

– Likely to reach support level 92.00

NZDJPY currency pair falling sharply after the price broke the support area located between the support level 95.50 and the 38.2% Fibonacci retracement of the previous impulse (1) wave from April.

The breakout of this support area accelerated the active impulse wave C of the intermediate ABC correction (2) from the start of this month.

NZDJPY currency pair can be expected to fall further to the next support level 92.00 (target price for the completion of the active wave (2)).