Mon, Oct 03, 2022 @ 08:00 GMT

NZDJPY Wave Analysis

  • NZDJPY broke resistance level 84.70
  • Likely to rise to resistance level 86.40

NZDJPY today broke the resistance level 84.70 (top of the earlier Shooting Star from the start of this month) intersecting with the 681% Fibonacci correction of the downward impulse (c) from July.

The breakout of the resistance level 84.70 should accelerate the active short-term impulse wave (iii), which belongs to wave C from May.

Given the clear daily uptrend, NZDJPY can be expected to rise toward the next resistance level 86.40 (which has been reversing the price from March).

FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading