NZDJPY Wave Analysis 31 March, 2021

• NZDJPY rising inside impulse wave 5

• Likely to reach resistance level 79.20

NZDJPY continues to rise inside the sharp upward impulse wave 5 – which started earlier with the daily Morning Star from the key support level 75.55 (former powerful resistance from the start of January).

The active impulse wave 3 belongs to the intermediate upward impulse sequence (3) from the middle of December.

NZDJPY is likely to rise further toward the next resistance level 79.20 (top of the impulse wave 3 from the end of February).