NZDJPY Wave Analysis – 29 July, 2022

• NZDJPY broke support level 84.80

• Likely to fall to support level 83.00

NZDJPY currency pair recently broke the support level 84.80 (former resistance from the start of July) intersecting with the 50% Fibonacci correction of the upward price impulse (i).

The breakout of the support level 84.80 accelerated the active minor corrective wave (ii).

NZDJPY currency pair can be expected to fall further toward the next strong support level 83.00 (which stopped the two corrections (2) and 2).