What happened? Japanese shares fell on Monday…
NZD/JPY falling inside minor impulse wave (iii)
2021-11-11 • Updated
- NZD/JPY falling inside minor impulse wave (iii)
- Next sell target - 75.60
NZD/JPY continues to fall inside the minor impulse wave (iii) which started earlier from the resistance trendline of the sharp daily down channel from the end of January (as can be seen below). The active impulse wave (iii) belongs to the minor impulse 5 of the intermediate impulse wave (3) from the middle of February (which is itself a part of the long-term downward impulse wave ③ from January).
NZD/JPY is expected to fall further to the next sell target at the support level 75.60 (former strong support from November and the target price for the completion of the active impulse wave (3)).
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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