Tickmill
Long

NZDJPY approaching support, potential bounce!

FX:NZDJPY   New Zealand Dollar / Japanese Yen
NZDJPY is approaching our first support at 76.82 (100% Fiboancci extension, 78.6% fibonacci retracement ) and a strong bounce might occur above this level pushing price up to our major resistance at 77.61 (horizontal overlap resistance, 38.2% fibonacci retracement ).
Stochastic (55,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
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Losses can exceed the initial investment so please ensure you fully understand the risks
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This analysis is provided as general market commentary and does not constitute investment advice.
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