Japanese Yen Strengthens on COVID-19 Worries
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NZD/JPY broke two resistance levels
2019-11-11 • Updated
- NZD/JPY broke two resistance levels
- Next buy target - 80.00
NZD/JPY recently broke through the two consecutive resistance levels – 78.00 and 78.50 – which coincide with the 38.2% and 50% Fibonacci correction levels of the previous sharp downward price impulse from the middle of January. The breakout of these resistance levels is aligned with the active impulse wave B from March. NZD/JPY is expected to rise toward the next buy target at next resistance level 80.00 (target price for the completion of the active wave B).
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