NZDJPY Eyeing 73.6/74.2 Zone
Hello traders,
NZDJPY is similar to AUDJPY recovering; we see NZDJPY breaking out of a corrective channel, which is a confirmation that wave 4 of a higher degree wave A is completed at 68.71 level, and that wave 5 is underway. Wave 5 of A can now unfold a five-wave sub-structure, eyeing 73.6/74.2 level where possible resistance and reversal may be faced. That said, be aware of temporary pullbacks along the way.
In case higher degree wave A, and B had already completed, then latest recovery can be higher degree wave C, which can go beyond 73.0 mark.
NZDJPY, 4h
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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