NZD/JPY: buy target - 86.00
By: Dima Chernovolov
- NZD/JPY reached sell target 87.00
- Next buy target - 86.00
NZD/JPY continues to decline after the recent breakout of the support level 87.00 – which was set as the sell target in our previous forecast for this currency pair. The breakout of this support level accelerated the active minor impulse wave 3 (which belongs to the 3rd intermediate impulse (3) from May) - which earlier broke the pivotal support level 88.00 (which was mentioned in our previous forecast for NZD/JPY).
NZD/JPY is likely to fall further inside the active impulse wave 3 toward the next sell target 86.00. Sell stop-loss can be placed above the recently broken price level 87.00.