The New Zealand Dollar has declined by 4.52% against the Japanese Yen since the beginning of September. The currency pair breached the 50-, 100– and 200– period SMAs during this period.
Technical indicators suggest selling signals on the daily time-frame chart. Therefore, bears are likely to continue to dominate the exchange rate during the following trading sessions.
However, the NZD/JPY currency exchange rate could make a brief pullback towards the 70.00 level in the nearest future.