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NZDJPY continues to fall inside the impulse wave 3 which started earlier with the daily Bearish Engulfing from the resistance area lying between the resistance level 71.650 (monthly high from June) and the upper daily Bollinger Band. With the markets showing strongly bearish sentiment toward the New Zealand dollar today (this coupled with the moderate yen bullishness) – NZDJPY is likely to extend the losses toward the next support level 69.000.
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