ew-forecast

NZDJPY : Basic Flat Correction Unfolding

FX:NZDJPY   New Zealand Dollar/Japanese Yen
After a nice impulsive decline from February highs at 79.39 down to 73.18, NZDJPY             has turned higher and has since then been trading slowly and choppy, clearly in a correction, that looks to be a flat pattern. Well, this correction from the end of a five wave drop could be near completion, as price seems to be trading in its third and final leg, wave C. We still need five sub-waves in wave C, before we can expect a reversal to the downside.
Upside can be limited at the region of the previous wave iv), 76.76 level, where resistance can take place.

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