NZD/JPY on the decline

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 He also is founder of forex services on provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: