NZDJPY approaching support, potential bounce!

23 במאי 2018

NZDJPY is approaching our first support at 76.06 (horizontal overlap support, 76.4% Fibonacci retracement) where price might potentially bounce above this level and rise to our first resistance at 76.97 (horizontal overlap resistance, 61.8% Fibonacci retracement). A breakout above this level might push price up to our second resistance at 77.52 (horizontal swing high resistance, 50% Fibonacci retracement).
RSI is also testing support and a bounce off this level might see a corresponding rise in price.