NZDJPY approaching resistance, potential drop!

FX:NZDJPY   New Zealand Dollar / Japanese Yen
NZDJPY is approaching our first resistance at 76.62 (horizontal swing high resistance, 100%, 61.8% Fibonacci extension , 76.4% Fibonacci retracement ) where a strong drop might occur below this level to our major support at 75.22 (horizontal swing low support, 50% Fibonacci retracement , 100% Fibonacci extension ).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
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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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