Categories: Technical analysis

NZDJPY Wave Analysis – 27 August, 2021

• NZDJPY broke key resistance level 76.65

• Likely to rise to resistance level 77.80

NZDJPY Wave Analysis – 27 August, 2021 continues to rise after the price broke above the key resistance level 76.65 (which stopped the pervious impulse wave (a)).

The breakout of the resistance level 76.65 coincided with the breakout of the 61.8% Fibonacci correction of the previous wave 1 – which accelerated the active corrective wave 2.

Given strong yen outflows, NZDJPY can be expected to rise further toward the next resistance level 77.80 (target price for the completion of the active corrective wave 2, top of wave (B)).

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team

Recent Posts

Dollar: Slowing Momentum, Same Direction

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

8 mins ago

Bitcoin Fell Back to Local Support

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

2 hours ago

EURCHF Wave Analysis 20 December 2024

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

3 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

3 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

3 days ago

How deep will crypto dive?

The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…

3 days ago

This website uses cookies