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Wave Tech Analysis

FxPro Forex Analysis: NZDJPY Wave Analysis – 20 September , 2018

NZDJPY broke daily down channel
• Further gains are likely

NZDJPY continues to rise after the earlier breakout of the resistance trendline of the daily down channel from June (which encloses the most of the active medium-term impulse sequence (C)).

The breakout of this down channel should accelerate the active short-term corrective wave 4 – which started earlier form the powerful support level 72.20.

NZDJPY is expected to rise further and retest the next resistance level 75.00 (top of the previous minor correction (b) from the end of August).

NZDJPY - Primary Analysis - Sep-20 1557 PM (1 day)