NZDJPY - Intraday - We look to Buy at 70.20 (stop at 69.90)
Posted mild net daily losses but all trading confined to the previous days range, an indecisive Inside Day. The selloff has posted an exhaustion count on the intraday chart. Bespoke support is located at 70.20. Although the anticipated move higher is corrective, it does offer ample risk/reward today. A 5 wave bearish count has been completed at 70.04.
Our profit targets will be 71.04 and 71.32
Resistance: 71.04 / 71.32 / 71.68
Support: 70.20 / 70.04 / 68.90
Posted mild net daily losses but all trading confined to the previous days range, an indecisive Inside Day. The selloff has posted an exhaustion count on the intraday chart. Bespoke support is located at 70.20. Although the anticipated move higher is corrective, it does offer ample risk/reward today. A 5 wave bearish count has been completed at 70.04.
Our profit targets will be 71.04 and 71.32
Resistance: 71.04 / 71.32 / 71.68
Support: 70.20 / 70.04 / 68.90
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