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NZD/JPY Approaching Support, Potential Bounce!

Posted On 08 Feb 2019
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NZD/JPY is approaching our first support level at 73.45 (horizontal swing low support, 38.2% Fibonacci retracement, 100% Fibonacci extension, Elliot wave structure) where we expect a strong bounce above this level to our major resistance level at 74.01 (horizontal pullback resistance, 23.6% Fibonacci retracement).

Stochastic (34,5,3) is also approaching support.

NZD/JPY is nearing our first support where a bounce above this level is anticipated.

Buy above 73.45. Stop loss at 73.16. Take profit at 74.01

The material has been provided by InstaForex Company – www.instaforex.com

Source:: NZD/JPY Approaching Support, Potential Bounce!

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