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NZDJPY has most likely completed a double correction from it's high's of 94.03
Price should turn from here as long as it remains above 84.93. Upside resistance comes in at 89.31 which coincides with the 50% fib of the entire move to the downside. Momentum has been strong to the downside, price may consolidate before turning.
Similar structures can be found in pairs like CADJPY.
Price should turn from here as long as it remains above 84.93. Upside resistance comes in at 89.31 which coincides with the 50% fib of the entire move to the downside. Momentum has been strong to the downside, price may consolidate before turning.
Similar structures can be found in pairs like CADJPY.
Figure 1 - Daily NZDJPY Proposed Wave Count
Figure 2 - Weekly NZDJPY Levels
