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NZDJPY approaching major support, prepare for a bounce!

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Nyzeeländska dollar/Japanska yen (FX:NZDJPY)  
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FX:NZDJPY   Nyzeeländska dollar/Japanska yen
Trend Analysis Harmonic Patterns Chart Patterns NZDJPY nzdjpyshort nzdjpylong nzdjpysell nzdjpybreakout NZD jpy nzdjpybuy nzdjpysignal
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trendanalysis harmonicpatterns chartpattern nzdjpy nzdjpyshort nzdjpylong nzdjpysell nzdjpybreakout nzd jpy nzdjpybuy nzdjpysignal

NZDJPY is approaching major support and a potential bounce could occur at 79.45 (Fibonacci retracement, Fibonacci extension, Elliott wave structure) to push price up towards 80.51 (Fibonacci retracement, Elliott wave structure, horizontal overlap resistance).

Stochastic (55,5,3) is seeing major support above 1.7% where a corresponding bounce could occur.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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