NZDJPY Short
#WaveAnalysis
#NZDJPY reversed from resistance level 88.00
Likely to fall to support level 87.20
NZDJPY currency pair recently reversed down after the pair failed to keep the ground above the key resistance level 88.00 (former multi-month high from last December).
The downward reversal from the resistance level 88.00 stopped the 2 of the earlier upward impulse waves – C and (iii).
Given the overbought daily Stochastic, NZDJPY can be expected to fall further toward the next support level 87.20 (former top of the previous impulse wave A).
#NZDJPY reversed from resistance level 88.00
Likely to fall to support level 87.20
NZDJPY currency pair recently reversed down after the pair failed to keep the ground above the key resistance level 88.00 (former multi-month high from last December).
The downward reversal from the resistance level 88.00 stopped the 2 of the earlier upward impulse waves – C and (iii).
Given the overbought daily Stochastic, NZDJPY can be expected to fall further toward the next support level 87.20 (former top of the previous impulse wave A).
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