From Sep-09 to Sep-18 it was trading in a range and felled below the range. I have marked some levels are acting as accumulation and distribution phases after some consolidation phase its moved in a massive way.
The price is currently in a consolidation range at around 70.00 key psychological level. From this level we can expect run towards 71.200 which is price action level where we can see a series of upper side rejection.This level is coordinated with 78.6% Fibonacci level
The price is currently trading within a.50 and .618 Fibonacci levels.As its reached the upper side of the .50 Fibonacci we can expect a minor correction towards .382 Fibonacci and from this level it will go .
The 03 Exponential moving averages which is 50,100,200 are holding as support for the bull.
In theory the 4th impulse wave is completed and the 5th wave is underway. has reached the 60 level and histogram showing a starting of the .
is acting as support for the bull as its managed to float above the cloud.Buying NZDJPY around 69.900 with the target of 71.150 will give a nice risk reward ratio. Stop lose may placed below the 4th end point which is 69.600
Give us a like if you found useful. And tell your opinion in the comment section