NZDJPY Wave Analysis – 8 May, 2020

NZDJPY reversed from support level 63.60
Likely to rise to 66.00

NZDJPY recently reversed up from the support level 63.60 (which has been repeatedly reversing the price from the start of April).

The support area near the support level 63.60 was strengthened by the lower daily Bollinger Band.

NZDJPY is expected to rise further in the active impulse wave (1) toward the next resistance level 66.00 (upper boundary of the sideways price range from the start of April).

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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