NZDJPY Wave Analysis 8 November 2024

– NZDJPY reversed from resistance level 92.00

– Likely to fall to support level 90.40

NZDJPY currency pair recently reversed down from the resistance level 92.00, which is the upper boundary of the narrow sideways price range inside which the pair has been moving from September.

The resistance level 92.00 was strengthened by the upper daily Bollinger Band and by the nearby 61.8% Fibonacci correction of the downward impulse from July.

NZDJPY currency pair can be expected to fall to the next support level 90.40 (lower boundary of the aforementioned price range).