December 21, 2018 at 02:54PM
- NZDJPY broke the support zone
- Further losses are likely
NZDJPY recently broke the support zone lying between the key support level 75.50 (former resistance from September) and the 50% Fibonacci correction of the previous sharp upward impulse form October.
The breakout of this support level should continue the active short-term impulse wave 3 of medium-term downward impulse wave (C) from the start of this month.
NZDJPY is expected to fall further and re-test the next support level 74.00 (forecast price calculated for the completion of the active impulse wave 3).
From: Wave Tech Analysis https://fxpro.news/market-snapshots/nzdjpy-wave-analysis-21-december-2018-20181221/
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