• NZDJPY broke resistance zone
• Likely to rise to resistance level 83.00
NZDJPY currency pair continues to rise inside the minor impulse wave 3, which was accelerated earlier – when the price broke the resistance zone lying between the round resistance level 80.00 (previous multi-month high from May) and the upper resistance trendline of the daily up channel from the middle of August. The breakout of this resistance zone accelerated both of the active different-dimension impulse waves – 3 and (3).
Given the clear daily uptrend and the continued strong yen outflows, NZDJPY currency pair can be expected to rise further toward the next resistance level 83.00 (target price for the completion of the active impulse wave (3)).
