Technical analysis

NZDJPY Wave Analysis – 8 July, 2022

NZDJPY Wave Analysis – 8 July, 2022

• NZDJPY reversed from key support level 83.25

• Likely to rise to resistance level 84.75

NZDJPY recently reversed up from the key support level 83.25 (which stopped wave (2) in June), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse (1) from May.

The upward reversal from the support level 83.25 stopped the earlier minor ABC correction 2.

NZDJPY can be expected to rise further toward the next resistance level 84.75 (former support from the end of June).

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