Categories: Technical analysis

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).

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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