What happened? Japanese shares fell on Monday…
NZD/JPY broke support area
2019-11-11 • Updated
- NZD/JPY broke support area
- Next sell target - 74.00
NZD/JPY recently broke the support area lying between the key support levels 76.00 and 75.00 (which have been reversing the price from the start of March). The breakout of this support area intensified the bearish pressure on this currency pair. NZD/JPY is expected to fall further toward the next sell target at the next support level 74.00 (target price from the completion of the active impulse wave C).
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!
Bullish Scenario: Buys above 17910 with TP:18098.07, TP2:18277, and TP3: 18415 Bearish Scenario: Sells below 17850 with TP1:17730, TP2: 17700
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