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NZDJPY has made a bullish exit, potential for strong rally!

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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 NZD jpy nzdjpylong nzdjpyshort nzdjpysell nzdjpybreakout nzdjpybuy forexsignals
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trendanalysis harmonicpatterns chartpattern nzdjpy nzd jpy nzdjpylong nzdjpyshort nzdjpysell nzdjpybreakout nzdjpybuy forexsignals
NZDJPY has made a bullish exit of our descending channel and could rally strongly from here. A strong rally could occur above major support at 77.66 (Fibonacci retracement, horizontal overlap support, breakout level) towards 79.24 resistance (Fibonacci retracement, horizontal overlap resistance).

RSI (89) has made a similar bullish exit signaling a change in momentum from bearish to bullish.

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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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