E Market Analysis: NZD/JPY, USD/MXN, Gold, Nikkei

NZD/JPY can be trading in a five-wave recovery from 59.45 level. We see completed waves 1, 2, and 3, so the latest decline from 71.66 level can be a corrective wave 4 of A. Possible support for wave 4 can be at Fib. the ratio of 38.2 and 50.0 (68.3/67.3 level) and at the level of a former wave 4) of one lesser degree, which also provides a turning point.

If NZD/JPY had already completed a five-wave bullish move from the 59.45 lows, then be aware of a deeper correction as wave B to unfold.

NZD/JPY, daily

(Click on image to enlarge)

My new video includes information on 10 US Notes, Nikkei, NZD/JPY, Gold, USD/MXN.

Video Length: 00:08:33

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

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