NZDJPY And AUDJPY Looking Bullish
AUDJPY is rising sharply, ideally unfolding a bigger, bullish cycle with pair now unraveling its blue wave three. Wave three is an impulse, and the strongest one, and also sharpest, so be aware of more upside, once sub-wave iii) and iv) fully develop. Now sub-wave iii) can be looking for resistance, and a potential top near the Fibonacci ratio of 261.8 (75.70 region), from where corrective leg iv) can follow, and take price temporarily lower.
AUDJPY, 1h
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NZDJPY is in a similar situation, now unraveling sub-wave iii) as part of a bigger, bullish cycle. We see pair approaching possible resistance zone near 72.31 area, where a temporary top can be found, and a three-wave pullback can start to form.
Sub-wave iv) can look for support around the 71.86 level, level of a former leg iv of one lesser degree.
NZDJPY, 1h
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