At the end of last week NZDJPY on H4 chart has broken the uptrend line, led from the low from 14th of November. According to the latest analysis it reached level of support which is located at 81.50.
Mentioned support has also been broken, and during yesterday’s session lasted its retest, as a new resistance.
Turning to M30 chart we can see formation of a double top in bullish correction which was confirmed after breaking local support at 81.25.
Breaking the said low could mean further declines. The closest target is Monday low at 80.96, while the next major support is at 80.30.
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