The NZD might have experienced a false downside breakout against the JPY. After NZD/JPY closed under rising support from the middle of May, prices bounced off the 61.8% Fibonacci retracement at 68.18. Now the pair is testing the 69.68 – 70.03 inflection range and an upside push could shift the focus back in early June highs (71.24 – 71.73). The long term picture may still remain bearish however should falling resistance from 2014 hold - red line on the daily chart below.
Telah diedit 17 Jun 2020, 18:23
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