NZDJPY Reversed Nicely Off Resistance, Potential Drop!

٣١ مايو ٢٠١٨

NZDJPY reversed nicely off its resistance at 76.31 (100% Fibonacci extension, 61.8% & 38.2% Fibonacci retracement, horizontal overlap resistance) where price could potentially fall to its support at 74.56 (61.8% Fibonacci extension, horizontal swing low support). We do have to be cautious of the intermediate support at 75.40 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (21, 5, 3) reversed nicely off its resistance at 96% where a corresponding drop is expected.