The price of NZDJPY pair has recently moved in a downward trend and set new minima. However, since seting a low at the level of 75.65 in the first half of April, the subsequent new lows were created at higher levels.

In addition, on Tuesday, the downward trend line drawn from high from January 27th was broken. Currently the price is still above this line, but the trend has not yet been confirmed. Such a confirmation will be breaking level of the last high at 78.00. If the new upward trend is confirmed than nearest target for gains will be resistance around 78.90, which in March this year worked as a support.

The above analysis was done on an account at XM broker who offers $30 per start!

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