NZDJPY recently reversed up from the support zone located at the intersection of the key support level 71.80 (which reversed the previous waves 4 and (1), as can be seen below), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp upward impulse from November. With the rising bullish sentiment affecting New Zealand dollar at the moment – NZDJPY is likely to remain under the bullish pressure and extend the gains toward the next strong resistance level 73.00 (which has been reversing the price from July).
NZDJPY reversed from 71.80 support zone; Likely to rise to 73.00
