NZDJPY: ⬆️ Buy
– NZDJPY reversed from support area
– Likely to rise to resistance level 93.80
NZDJPY currency pair recently reversed from the support area between the key support level 91.75 (former top of wave i from the start of January), 20-day moving average and the 38.2% Fibonacci correction of the upward impulse from November.
The upward reversal from this support area continues the active impulse waves iii, 3 and (5).
Given the strong daily uptrend and continuation of the widespread yen sales, NZDJPY currency pair can be expected to rise further to the next resistance level 93.80 (which reversed the price earlier this month).
Source: Fxpro