NZDJPY Wave Analysis – 26 June, 2019

NZDJPY rising inside short-term correction 2
Further gains are likely

NZDJPY continues to rise inside the short-term correction 2, which started earlier from the support area lying between the key support level 70.35 (which stopped the previous sharp impulse wave 1 in May) and the lower daily Bollinger Band.

The price earlier broke the resistance trendline from March – which accelerated the active correction (ii).

NZDJPY is expected to rise further and retest the next resistance level 72.270 (top of the previous short-term correction 2).

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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