NZD/JPY broke strong support level 78.20

NZD/JPY broke strong support level 78.20

  • NZD/JPY broke strong support level 78.20
  • Next sell target - 76.50

NZD/JPY today broke below the strong support level 78.20 (which stopped the previous minor impulse wave A at the start of September, as can be seen below). The breakout of this support 78.20 should accelerate the active impulse wave C which belongs to the intermediate ABC correction (2) from the end of July. NZD/JPY is expected to fall to the next sell target at the next support level 76.50 (which reversed previous wave 2 in May).

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