What happened? Japanese shares fell on Monday…
NZD/JPY reversed from resistance area
2019-11-11 • Updated
- NZD/JPY reversed from resistance area
- Next sell target - 80.00
NZD/JPY recently reversed down from the resistance area lying between the resistance level 83.600 (which was set as the buy target in our earlier forecast for this currency pair and which reversed the earlier sharp upward impulse waves (3) and (5), as can be seen below) and the upper weekly Bollinger Band. NZD/JPY is expected to fall further to next sell target at the next round support level 80.00 (intersecting with the 50% Fibonacci correction of the weekly upward impulse from April).
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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