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NZD/JPY reversed from support area

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  • NZD/JPY reversed from support area
  • Next buy target - 77.20

NZD/JPY recently reversed up from the support zone lying between the strong support level 76.00 (which has been repeatedly reversing the price from the middle of November) and the lower daily Bollinger Band. The upward reversal from the support area stopped the previous minor impulse wave A. Given the oversold reading on the daily Stochastic indicator - NZD/JPY is expected to rise toward the next buy target at next resistance level 77.20.

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