FBS - Analytics


    555.25 6.25/10
    84% of positive reviews

    NZD/JPY: sell target - 74.50

    • NZD/JPY reversed from resistance area
    • Next sell target - 74.50

    NZD/JPY recently reversed down strongly from the resistance zone lying between the resistance level 77.50 (which also reversed the (ii)-wave earlier this month) and the 38.2% Fibonacci Correction of the previous sharp downward impulse wave 1 from the end of December. The downward reversal from this resistance zone continues the active intermediate impulse wave (3) - which belongs to the primary downward impulse wave ③ from the start of December.

    Given the strength of the resistance zone near the resistance level 77.50 – NZD/JPY is likely to fall further to the next sell target at the support level 74.50.

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree