Categories: Technical analysis

NZDJPY Wave Analysis – 30 July, 2019

  • NZDJPY broke daily up channel
  • Further losses are likely

NZDJPY recently broke the daily up channel from the middle of June – which accelerated the active short-term impulse wave 3 from key resistance level 73.00.

The breakout of this daily up channel strengthened the bearish pressure on NZDJPY – accelerating the active impulse waves 3 and (3).

NZDJPY is expected to fall further and retest the next support level 71.50 (low of the previous short-term (b)-wave).

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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Tags: NZDJPY

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