NZDJPY: Full Target Done, Position Closed!
In this quick technical update for the NZDJPY, we will see how the pair has achieved the awaited breakout as we expected on May 29.
The following figure shows how the pair has reached the full target level, marked by the 23.6% Fibonacci retracement of the wave from 84.05 to 94.03.
The negative pressures may continue and we said “re-visiting 84.05 is likely”.
However, the Fibonacci 23.6% was our main objective and with touching it, we are comfortable with the profits we made.