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NZDJPY approaching major support, prepare for a potential bounce

Long
New Zealand Dollar / Japanese Yen (FX:NZDJPY)  
Tickmill Broker  
FX:NZDJPY   New Zealand Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns NZDJPY NZD jpy nzdjpylong nzdjpyshort nzdjpysell nzdjpybreakout nzdjpybuy Forex
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trendanalysis harmonicpatterns chartpattern nzdjpy nzd jpy nzdjpylong nzdjpyshort nzdjpysell nzdjpybreakout nzdjpybuy forex
NZDJPY is approaching major support at 76.08 (Fibonacci extension, horizontal swing low support, Elliott wave structure) and a potential bounce could occur at this level to drive price up to 77.66 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).

Stochastic (34,5,3) is seeing major support at 1.7% where a corresponding bounce could occur.

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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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