NZDJPY Chart Technical Outlook

NZDJPY Chart Technical Outlook heads north toward 87.60 in a broadly bullish bias, NZD/JPY completed a three-wave corrective structure, labeled WXY, within a contracting triangle pattern, willing to breakout for the upside on a risk appetite sentiment if the US data due today shows another soft Employment print from the ADP Private Non-Farm Employment Change, which has a forecast of 195k vs 324k prior. It is a very low estimate, and output could beat that, but a print lower-than-prior might do the job after the dust settles.
87.60 is the today’s resistance. If broken, 88.50 would be the following barrier.
Supports are at 86.45 and 85.85.

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