NZDJPY Technical and fundamental

FX:NZDJPY   New Zealand Dollar / Japanese Yen
The price is forming an anti new cypher , with fibonacci drawn from 0 to 1

Where a less risky entry will be at 80.430 which is also 1.618 on fibonacci.

The price is also performing a 5 wave sequence where the Minute have enden and startet the correctional waves
with Minuette and a W,X,Y,X,Z correction inside an ascending broadening wedge .

A correction is in place for the Minute waves where 78.532 and 77.982 are support levels which is also ((x)) and (iv) waves
77.982 is 0.78 on fibonacci where 78.532 is 1.0 on fibonacci.

If you draw fibonacci from (( iii )) to ((0)) the 80.430 level is also 0.786 on fibonacci drawn from that levels.

We have a lot of important macroeconomic data that can effect the price fluctuation.

Tuesday economic numbers from china is coming out and Australia, New Zealand also.

Thursday we also have a lot of volatile data coming out from australia and NZ

Good numbers are expected both Tuesday and Thursday, which can drive the prices higher. while not so favorable numbers from china can drive the prices down eminently.

This can support the retracement to 78.532 and 77.982. before further upside.

Next week from 23 April to 27 April we also have high volatile numbers coming out with BOJ to release interest rate statement.

good idea
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