October 01, 2020 at 03:38PM
• NZDJPY broke resistance level 70.00
• Likely to rise to 71.00
NZDJPY recently broke the resistance level 70.00 (which was set as the likely upward target in our previous forecast for this currency pair).
The breakout of the resistance level 70.00 coincided with the breakout of the 38.2% Fibonacci correction of the previous downward ABC correction (2) – accelerating the active impulse wave (1).
NZDJPY is likely to rise further toward the next resistance level 71.00 (which started the C-wave of the previous ABC correction (2)).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/nzdjpy-wave-analysis-1-october-2020-20201001/
Selected by fonecable.com
- How the COVID-19 Pandemic is Disrupting India’s Gold Demand
- Dollar bears and stock bulls take the upper hand
- NFP and Forex: What is NFP and How to Trade It?
- NEWS: Japan PM Suga: Aiming to administer 1 million vaccine shots a day to the public May 07, 2021 at 11:29AM
- NEWS: ECB’s Lagarde: ECB focus on price stability supports jobs, growth May 07, 2021 at 11:22AM