We shared NZDJPY already back on July 30, where we mentioned and highlighted a bullish turn with a leading diagonal formation, suggesting more upside after a pullback. CLICK HERE
New Zealand dollar turned up against the Japanese Yen since April, when we saw a strong rebound from 80.40 support, a key level going back to March 2023. The recovery is quite strong, and it looks like a leading diagonal pattern into wave A; so it's a motive wave structure that already pushed above the 87.34 resistance, which is a strong bullish signal, suggesting more upside ahead.Â
As you can see today on September 30, the current projected retracement is a contra-trend move; possibly wave B that has a nice support at 85-84 area, which is not that far away, so we may get a new bounce in a few weeks; ideally an impulse, out of a current downward channel.Â
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For more analysis like this, you may want to watch below our latest recording of a live webinar streamed yesterday on Monday, September 29:
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