What happened? Japanese shares fell on Monday…
NZD/JPY reversed from support zone
2019-11-11 • Updated
- NZD/JPY reversed from support zone
- Next buy target - 81.60
NZD/JPY recently reversed up with the daily Japanese candlesticks reversal pattern Hammer from the support area lying between the pivotal support level 79.20 (former resistance level from December), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous ABC correction (2) from November. NZD/JPY is expected to rise further toward the next buy target at the next resistance level 81.60 (top of the aforementioned correction (2)).
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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