Technical analysis

NZDJPY Wave Analysis 29 April, 2021

• NZDJPY reversed from resistance level 79.10

• Likely to fall to support level 78.00

NZDJPY recently reversed down from the resistance level 79.10 (which has been reversing the price from the end of February – as can be seen below).

The resistance zone near the resistance level 79.10 was strengthened by the upper daily Bollinger Band.

Given the overbought daily Stochastic – NZDJPY is likely to fall further toward the next support level 78.00 (former resistance from the start of April).

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