E 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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William K. 1 month ago Member's comment

Evidently this blast of jargon relates to happenings that should be very exciting to those who are part of it.

That does not include me. And that is OK, certainly it is important to some folks.