The New Zealand Dollar has appreciated about 1.20% in value against the Japanese Yen since last week’s trading sessions. The currency pair was guided up by the 200– hour simple moving average.
As for the near future, the exchange rate will likely maintain a junior ascending channel pattern. Bullish traders might target a resistance cluster formed by the weekly R2 and the monthly R1 at 70.53.
Although, the upper boundary of a dominant descending channel pattern at 69.80 could provide resistance for the currency exchange rate during the following trading sessions.