Elliott Wave Analysis: Sharp Decline On NZDJPY Suggest Final Wave Five To Be In Motion 

nzdjpy elliott wave

Gregor - Author BIO photoElliott Wave Analysis: Sharp Decline On NZDJPY Suggest Final Wave Five To Be In Motion

NZDJPY is turning down from 79.40 area where pair completed wave 4) corrective rally. Currently decline looks strong and is approaching the lower support line of an Elliott Wave channel, where breakout can cause further weakness for big wave 5).

NZDJPY, 1H

nzdjpy analysis

Here is the 4h view of the NZDJPY.

NZDJPY, 4H

nzdjpy elliott wave

 

Disclosure:
We do not own any assets or share of the instrument mentioned in our outlook
Please be informed that information we provide ARE NOT trading recommendation or investment advice. All of our work is for educational purposes only.

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By Gregor Horvat

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