Last week on the currency pair NZDJPY was already the fourth in a row, where the closing was lower than the opening. Declines from the key resistance level at 83.71 reached support area between 80.43 / 80.
Breaking this area will confirm the formation of a double top. The measured movement which results from this formation should reach a range of about 330 pips (level 77.10). Key support we can determine slightly higher, at 77.70 and it will be safer to place TP there. Alternatively, if the support will be defended by rebound price can reach area of the last peak at 81.71. More important resistance is in the vicinity 82.50.
