NZD/JPY continues daily downtrend
- NZD/JPY continues daily downtrend
- Next sell target - 72.00
NZD/JPY has been falling in the last few trading sessions inside the minor impulse wave (iii), which belongs to the impulse wave 3 of the intermediate downward impulse (3) from March. The active impulse wave 3 started earlier in July – when the pair reversed down from the resistance zone lying between the resistance level 76.60, upper daily Bollinger Band and the 50% Fibonacci correction of the previous downward impulse from December.
NZD/JPY is likely to fall to the next sell target at the support level 72.00 (which reversed the previous (b)-wave at the start of July, as can be seen below).