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.

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