NZD/JPY reversed from support area

NZD/JPY reversed from support area

  • NZD/JPY reversed from support area
  • Next buy target - 78.00

NZD/JPY recently reversed up from the support area surrounding the key support level 76.20 (which has been reversing the price from last November, as can be seen below). This support zone was further strengthened by the lower daily Bollinger Band. NZD/JPY is expected to rise toward the next buy target at next resistance level 78.00 (intersecting with the 38.2% Fibonacci correction of the downward impulse from January).

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