The main intraday target is the next resistance at 1.3189 - 1.3216. If a pullback from these levels happens next...
NZD/JPY falling inside minor impulse wave (iii)
- 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)).
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…