yen

NZD/JPY on the decline

Gregor Horvat
May 17, 2017 08:47 AM
Elliott Wave Analysis: NZD/JPY

If a risk-off trade will be the case then New Zealand dollar/Japanese yen (NZD/JPY) currency pair may stay under pressure as well. So far, we have seen a new low after a completed flat at 78.47, so there is room for the third leg of decline to reach 76.20-76.60.

NZD/JPY, 1 hour

About the Author

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/