NZD/JPY Bounced Off Support, Prepare For A Further Rise

NZD/JPY bounced nicely off its support at 77.34 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 77.94 (50% Fibonacci retracement, horizontal pullback resistance).

Stochastic (89, 5, 3) is bounced off its support at 5.8% where a corresponding rise could occur.

NZD/JPY bounced nicely off its support where we expect to see a further rise.

Buy above 77.34. Stop loss at 76.83. Take profit at 77.94.


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