NZD/JPY broke support area

NZD/JPY broke support area

  • NZD/JPY broke support area
  • Next sell target - 75.70

NZD/JPY recently broke through the support area lying between the support levels 77.40 and 77.80. The breakout of this support area accelerated the active minor impulse wave C of the intermediate ABC correction (2) from the end of July. NZD/JPY is expected to fall toward the next sell target at the next support level 75.70 (multi-month low from April and the target price for the completion of the active wave (2)).


USD/JPY: "High Wave" pattern

We could have just a local upward correction in the short term. Nevertheless, bears are likely going to test the lower "Window"...


EUR/USD: "Double Top" pattern

Bulls faced with resistance at 1.2029, so the price is likely going to decline towards the nearest support area at 1.2003 - 1.1975...

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