Technical analysis

NZDJPY Wave Analysis – 26 June, 2019

NZDJPY Wave Analysis – 26 June, 2019
  • NZDJPY rising inside short-term correction 2
  • Further gains are likely

NZDJPY continues to rise inside the short-term correction 2, which started earlier from the support area lying between the key support level 70.35 (which stopped the previous sharp impulse wave 1 in May) and the lower daily Bollinger Band.

The price earlier broke the resistance trendline from March – which accelerated the active correction (ii).

NZDJPY is expected to rise further and retest the next resistance level 72.270 (top of the previous short-term correction 2).

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