Elliott Wave Intraday Analysis: NZD/JPY Confirms Bears

NZD/JPY Technical Analysis

NZDJPY turned sharply and impulsively down from the highs and we are tracking an Elliott wave minimum three-wave A/1-B/2-C/3 decline, where higher degree wave C/3 could be already in play after a completed Elliott wave three-wave (A)-(B)-(C) corrective setback in wave B/2.

Trading Strategy

Waves C and 3 are impulsive waves which should be completed by a five-wave cycle of the lower degree. We can actually clearly see an Elliott wave intraday bearish setup formation with five waves of decline away from 85.40 level that can easily send the price even lower, just be aware of short-term Elliott wave intraday corrective pullbacks.

Check similar Elliott Wave analysis idea for AUDJPY pair: CLICK HERE

Trade well!