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NZDJPY has made a bullish exit, potential for strong rally!

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 forexsignals
137
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trendanalysis harmonicpatterns chartpattern nzdjpy nzd jpy nzdjpylong nzdjpyshort nzdjpysell nzdjpybreakout nzdjpybuy forexsignals
NZDJPY has made a bullish exit of our descending channel and could rally strongly from here. A strong rally could occur above major support at 77.66 (Fibonacci retracement, horizontal overlap support, breakout level) towards 79.24 resistance (Fibonacci retracement, horizontal overlap resistance).

RSI (89) has made a similar bullish exit signaling a change in momentum from bearish to bullish.

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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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