Technical analysis
NZDJPY Wave Analysis – 9 August, 2022
August 09, 2022 @ 14:29 +03:00
![NZDJPY Wave Analysis – 9 August, 2022 NZDJPY Wave Analysis – 9 August, 2022](https://fxpro.news/wp-content/uploads/2021/08/forex-42-2.jpg)
• NZDJPY broke resistance level 84.70
• Likely to rise to resistance level 86.40
NZDJPY today broke the resistance level 84.70 (top of the earlier Shooting Star from the start of this month) intersecting with the 681% Fibonacci correction of the downward impulse (c) from July.
The breakout of the resistance level 84.70 should accelerate the active short-term impulse wave (iii), which belongs to wave C from May.
Given the clear daily uptrend, NZDJPY can be expected to rise toward the next resistance level 86.40 (which has been reversing the price from March).
![](https://fxpro.news/wp-content/uploads/2022/08/nzdjpy-primary-analysis-aug-09-1233-pm-1-day-1024x479.png)