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DeGRAM
Feb 3, 2021 9:27 AM

NZDJPY will return to support zone / Fall Short

New Zealand Dollar / Japanese YenFOREX.com

Description

During the growth, the price consistently broke through:
support line 72.51 and support line 73.55.
after that it continued to rise and came to the resistance at 75.74.
This is the second touch on the line in the last month.

This is a strong resistance line.
It was formed on the chart back in 2011.
The only breakdown occurred in May 2019.
Since then, every touch of the line has reversed the price.
After the price touched the strong resistance of 75.74, I expect a fall.
The price will collapse and return to the support area (line crossing).
The target is 73.19.


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Comments
emadov01
hey @DeGRAM is this idea still valid ? i like this analysis however the momentum still bullish , what do you think ?
pquocdinh64
Nice analysis
DeGRAM
@pquocdinh64, Thank you bro
grund58
all the best
DeGRAM
@grund58, Thanks
alxar5
Getting better all the time!
DeGRAM
@alxar5, Thank you
gamosisek
It ouldn’t be better!
DeGRAM
@gamosisek, You are welcome
wassertabe
always appreciate your analysis.
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