EUR/JPY broke key support level 131…
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)).
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.