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NZDJPY recently reversed down from the multi-month resistance level 71.600 (former monthly high from June and July) – intersecting the upper daily Bollinger Band. The downward reversal from the resistance level 71.600 started the minor corrective wave 2. Given the mild bearish sentiment affecting the New Zealand dollar today – NZDJPY is likely to fall further in the active correction 2 toward the next support level 70.690 (former resistance from the start of August).
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