NZDJPY approaching major support, prepare for a bounce!

NZDJPY is approaching major support and a potential bounce could occur at 79.45 (Fibonacci retracement, Fibonacci extension, Elliott wave structure) to push price up towards 80.51 (Fibonacci retracement, Elliott wave structure, horizontal overlap resistance).

Stochastic (55,5,3) is seeing major support above 1.7% where a corresponding bounce could occur.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.