Categories: Technical analysis

NZDJPY Wave Analysis – 26 May, 2020

• NZDJPY broke key resistance level 66.20

• Likely to rise to 68,00

NZDJPY recently broke above the key resistance level 66.20 – which is the upper boundary of the sideways price range inside which the pair has been trading from the end of March.

The breakout of the resistance level 66.20 should strengthen the bullish pressure on this currency pair.

NZDJPY is likely to rise further in the active impulse wave ③ toward the next resistance level 68,00 (former resistance from the start of March).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: NZDJPY

Recent Posts

Nasdaq 100 Wave Analysis 23 December 2024

- Nasdaq 100 reversed from strong support level 21000.00 - Likely to rise to resistance…

8 hours ago

USDJPY Wave Analysis 23 December 2024

- USDJPY reversed from key support level 156.35 - Likely to rise to resistance level…

8 hours ago

US indices: has the bullish trend broken?

The recent declines in US indices may have broken the bullish trend, indicated by technical…

13 hours ago

Dollar: Slowing Momentum, Same Direction

The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…

18 hours ago

Bitcoin Fell Back to Local Support

Bitcoin finds support near the 50-day moving average, but further declines in the stock market…

19 hours ago

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

4 days ago

This website uses cookies