Hello! Today I want to look at the NZDJPY.
In February 2009 we got an important low, from where we bounced strongly in five waves. After that we had a sideways move that lasted for two years. In 2012 this pair rocketed higher towards the 90 level and now I believe we will see a sharp correction or a new, long-term bear trend begin, depending on if the move from 2012 was wave 3, C or W.
If we compare major and minor wave 1 with wave 5 we see there is alot of Fibonacci confluence between 90-92 area.
There is also divergence all over the place.
I still like to see more upside in the short term.
I have already written about #EURAUD in my previous post,
where I also mentioned #EURNZD:
AUDJPY is also getting interesting at this levels …
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